Guardian Realty Refinances Medical Facility In Borough Park Brooklyn For $10M Loan
3710 13th Avenue
Building Size
—
Asset Type
—
Closing
Mar 30, 2023
About this deal
AI
Guardian Realty, through its entity 3710 13 LLC, has closed a $10 million refinance loan with Webster Bank for two commercial condominium units located at 3710 13th Avenue in Borough Park, Brooklyn. The properties have a total square footage of 208,693, out of the 275,008 square feet on the tax block.
Summary of transaction details
- Property Type: Medical Facility
- Transaction Amount: $10,015,270
- Market: Borough Park, Brooklyn
- Lender: Webster Bank - Matthew Solomon
- Landlord: Guardian Realty - Chaim Simkowitz
The deal involved Guardian Realty as the landlord and Webster Bank as the lender, represented by Matthew Solomon. The loan was secured to refinance the two commercial condominium units in Borough Park. The transaction signifies the confidence of both parties in the potential of the medical facility properties in this market.
On the Map
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
Loading comparables…
Deal FAQ
Browse New York sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93