Salvation Church Of God Secures $4 Million Refinance Loan From Lender With Brokers Gil Shenhav & David O'Leary
5601 Avenue N
$4,000,000
$294/SF
Building Size
13,585 SF
Asset Type
Church
Closing
Dec 1, 2025
About this deal
AI
The property involved in this transaction is a church located at 5601 Avenue N in Brooklyn. This asset has a total square footage of 13,585 and is currently owned by the Salvation Church Of God. The total loan amount secured for this property is $4,000,000, under a refinance loan type with a term of 10 years.
Summary of transaction details:
- Property Type: Church
- Transaction Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: 10 Years
- Address: 5601 Avenue N
- Market: Brooklyn
- Landlord: Salvation Church Of God
- Broker Representatives: Gil Shenhav & David O'Leary - Avra Capital
The transaction was managed by brokers Gil Shenhav and David O'Leary from Avra Capital, who represented the landlord, Salvation Church Of God, in this refinance deal. Their involvement facilitated the transaction which seeks to optimize the financing of the church property.
Players
Brooklyn Church Market Snapshot
Boundary boundary · Church · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93