JPMorgan Chase Provides $28M Acquisition Loan For Morrisania Industrial Property
FINANCED
$28,000,000
New York
See Similar DealsIndustrial138,000 SF
Financed
FINANCED
JPMorgan Chase Provides $28M Acquisition Loan For Morrisania Industrial Property
3350 Park Avenue
See Similar DealsIndustrial138,000 SF
Financed
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$202
Total Square Footage:138000 SF
Transaction Type:Loan
3350 Park Avenue in Morrisania is the site of a recent closed property transaction. This industrial property spans approximately 138,000 square feet, showcasing its significant size and potential for various uses. The deal, which took place on 03/02/2022, involved an acquisition loan of $28,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,000,000
- Address: 3350 Park Avenue
- Market: Morrisania
- Asset Type: Industrial
- Square Footage: 138,000
The lender for this transaction was JPMorgan Chase, providing the capital for the acquisition loan. The landlord of 3350 Park Avenue is Storage Post Self Storage, represented by Dylan Delaune and Jack Giannola. Skyview Advisors, with Aaron Sanchez as their representative, acted as the broker in this deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,000,000.00
Monthly NOI$186,666.67
Monthly Debt Service$176,979.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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