Updated Dec 4, 2024
Ahmad Salameh's Industrial Property At 20 Meadow Street Secures $1.6M Refinance Loan
20 Meadow Street
$1,600,000
$248/SF
Building Size
6,450 SF
Asset Type
Industrial
Closing
Oct 22, 2024
About this deal
AI
The property asset involved in this transaction is an industrial asset located at 20 Meadow Street in Brooklyn. The property spans 6,450 square feet and is associated with a loan amount of $1,600,000 for a refinance transaction, specifically structured as a 5 Year Fixed loan with a 30 Year Amortization and includes cash out refinance.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $1,600,000
- Address: 20 Meadow Street
- Market: Brooklyn
- Lender: Andrew Walsh - HAB BANK
- Landlord: Ahmad Salameh
- Broker: Isaac Blyakher - Blyakher Real Estate
- Loan Type: Refinance
- Loan Terms: 5 Year Fixed, 30 Year Amortization, Cash out Refinance
Key individuals in this transaction include Andrew Walsh, representing HAB BANK as the lender, and Isaac Blyakher from Blyakher Real Estate, who acted as the broker. Ahmad Salameh is noted as the landlord associated with this financing arrangement.
On the Map
$1,600,000
$248/SF
Industrial
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Brooklyn 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93