JPMorgan Chase Provides $41.4M Construction Loan For Wakefield, Bronx Specialty Property By Finch Group
4750 White Plains Road, The Bronx, New York 10470, United States
$41,391,220
$1,089,242/SF
Building Size
38 SF
Asset Type
—
Closing
Dec 23, 2022
About this deal
AI
The property involved in this closed transaction is a specialty asset located at 4750 & 4746 White Plains Road in the Wakefield neighborhood of Bronx. The property spans approximately 38,822 square feet. The transaction took place on 12/23/2022.
Summary of transaction details
- Property Type: Specialty
- Transaction Amount: $41,391,220
- Market: Wakefield, Bronx
- Address: 4750 & 4746 White Plains Road
- Square Footage: 38,822
The lender involved in this transaction was JPMorgan Chase, represented by Brett Mcleaod. The borrower and landlord in this deal was the Finch Group, with Wesley E. Finch as the representative. The loan amount for this transaction was $41,391,220, and the loan type was construction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93