Meridian Capital Group Arranges $12.6M Refinance Loan For Retail Property In Brooklyn
1401 Newkirk Avenue, Brooklyn, New York 11226, United States
$12,600,000
$547/SF
Building Size
23,025 SF
Asset Type
Commercial
Closing
Mar 14, 2022
AI
A retail property located at 1401-1419 Newkirk Avenue in Brooklyn has recently undergone a refinancing transaction. The deal was closed on 03/15/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,600,000
- Address: 1401-1419 Newkirk Avenue
- Market: Brooklyn
The loan for the refinancing was provided by Signature Bank, with Paul Kotronis representing the lender. The brokers involved in the deal were Isaac Filler, Yossi Koschitzki, and Elliot Levy from Meridian Capital Group.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93