Sterling National Bank Provides $28.75M Loan For Coney Island Clinic
FINANCED
$28,750,000
New York
See Similar Deals106,000 SF
Financed 05/18/2021
FINANCED
Sterling National Bank Provides $28.75M Loan For Coney Island Clinic
3035 West 24th Street, Coney Island, Brooklyn, NY, USA
See Similar Deals106,000 SF
Financed 05/18/2021
Summary
NEW YORK
Price Per Square Foot:$271
Total Square Footage:106,000 SF
Transaction Type:Loan
A clinic located at 3035 West 24th Street in Coney Island has been involved in a recent loan transaction. The lender, Sterling National Bank, provided a loan amount of $28,750,000 for this property. The clinic has a total area of 106,000 square feet.
Summary of transation details
- Property Type: Clinic
- Transaction Amount: $28,750,000
- Address: 3035 West 24th Street, Coney Island
- Market: Coney Island
- Loan Lender: Sterling National Bank
- Landlord: The Atlantic Group
- Square Footage: 106,000 SF
In this deal, The Atlantic Group acted as the landlord for the clinic located at 3035 West 24th Street. The loan was provided by Sterling National Bank, serving as the lender for this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,750,000.00
Monthly NOI$191,666.67
Monthly Debt Service$181,719.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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