Updated Mar 11, 2025
Lakeland Bank Provides $9M Refinance Loan For Bronx Industrial Property
122 Bruckner Boulevard, The Bronx, New York 10454, United States
$9,000,000
$244/SF
Building Size
36,800 SF
Asset Type
Industrial
Closing
Feb 23, 2022
About this deal
AI
The refinancing loan for the industrial property located at 122 Bruckner Blvd. in Bronx has been successfully closed. The property spans across 36,800 square feet, making it a significant asset in the industrial market. The loan amount secured for this transaction amounted to $9,000,000 and was provided by Lakeland Bank.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $9,000,000
- Address: 122 Bruckner Blvd.
- Market: Bronx
- Square Footage: 36,800
The loan was facilitated by Brad Domenico and Frank Stanislaski, representing Progress Capital as brokers. Their expertise and network in the industry were instrumental in securing the refinancing loan for this industrial property. Their commitment to the deal's success reaffirms their reputation as top-notch brokers in the market.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93