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Lakeland Bank Provides $9M Refinance Loan For Bronx Industrial Property

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FINANCED
$9,000,000
Frank Stanislaski
Brad Domenico

New York

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Industrial36,800 SF
Financed 02/24/2022
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FINANCED

Lakeland Bank Provides $9M Refinance Loan For Bronx Industrial Property

122 Bruckner Boulevard, The Bronx, New York 10454, United States

See Similar Deals
Industrial36,800 SF
Financed 02/24/2022
Frank Stanislaski
Brad Domenico
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$244
Total Square Footage:36,800 SF
Transaction Type:Loan

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

Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
Frank Stanislaski
Cushman & Wakefield
Frank Stanislaski
56 deals$914.2M volume
BROKER
Progress Capital
Progress Capital
BROKERAGE
Lakeland Bank
Lakeland Bank
LENDER

Details

FINANCED
IMAGE: Brad Domenico & Frank Stanislaski DATE: 02/24/2022 ADDRESS: 122 Bruckner Blvd. MARKET: Bronx ASSET TYPE: Industrial ~ SF: 36,800 LENDER: Lakeland Bank BROKERS: Brad Domenico (@Domenico317) & Frank Stanislaski (@FStanisl) – Progress Capital (@Progress.Capital) LOAN AMOUNT: $9,000,000 LOAN TYPE: Refinance Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,000,000.00

Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00