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1401 Newkirk Avenue, Brookl...

Meridian Capital Group Arranges $12.6M Refinance Loan For Retail Property In Brooklyn
FINANCEDCommercial

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

Isaac Filler

Filler Capital

Broker

$1.7B

vol

77 deals

Broker
Paul Kotronis

Paul Kotronis

Signature Bank

Lender

$60.1M

vol

6 deals

Lender
Signature Bank
Signature BankLender

New York Commercial Market Snapshot

Boundary boundary · Commercial · Loan transactions

Loading comparables…

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