Updated Mar 11, 2025
Bank United Provides $15.4M Acquisition Loan For Bronx Industrial Property
1335 East Bay Avenue, The Bronx, New York 10474, United States
$15,408,000
$280/SF
Building Size
55,000 SF
Asset Type
Industrial
Closing
Sep 21, 2022
About this deal
AI
The industrial property located at 1335 East Bay Avenue, 407, 421 & 412 Longfellow Avenue in the Bronx has been involved in a closed transaction. The property spans a total area of 55,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Date: 09/22/2022
- Address: 1335 East Bay Avenue, 407, 421 & 412 Longfellow Avenue, Bronx
- Market: Bronx
- Loan Amount: $15,408,000
- Loan Type: Acquisition
- Loan Terms: 175bps over 10-year Treasury, 10-year term, 25-year amortization, 80% LTV
The loan for this transaction was provided by Bank United. Bryan Geffen from Meridian Capital Group and Nicholas Athineos from Bank United acted as the brokers in this deal.
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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93