Bank United Provides $15.4M Acquisition Loan For Bronx Industrial Property
FINANCED
$15,408,000
New York
See Similar DealsIndustrial55,000 SF
Financed 09/21/2022
FINANCED
Bank United Provides $15.4M Acquisition Loan For Bronx Industrial Property
1335 East Bay Avenue, The Bronx, New York 10474, United States
See Similar DealsIndustrial55,000 SF
Financed 09/21/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$280
Total Square Footage:55,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,408,000.00
Monthly NOI$102,720.00
Monthly Debt Service$97,389.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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