Spring Bank Provides $5.75M Refinance Loan For Sunset Park Hotel
FINANCED
$5,750,000
New York
See Similar DealsHotel25,000 SF
Financed
FINANCED
Spring Bank Provides $5.75M Refinance Loan For Sunset Park Hotel
646 39th St Brooklyn, NY 11232, USA
See Similar DealsHotel25,000 SF
Financed
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$230
Total Square Footage:25000 SF
Transaction Type:Loan
The property involved in the transaction is a hotel located at 646 39th Street in the Sunset Park neighborhood of Brooklyn. The hotel has a total area of 25,000 square feet.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $5,750,000
- Lender: Spring Bank
- Brokers: Isaac Blyakher - Refined & Annie Zhang
- Loan Type: Refinance
In the deal, Spring Bank provided a loan of $5,750,000 for the refinance of the hotel property located at 646 39th Street. Isaac Blyakher from Refined and Annie Zhang were involved as brokers representing the parties in the transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,750,000.00
Monthly NOI$38,333.33
Monthly Debt Service$36,343.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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