Anthony Morena Acquires Other Property In Williamsburg For $3.5M
FINANCED
$3,500,000
New York
See Similar DealsIndustrial2,100 SF
Financed 07/02/2019
FINANCED
Anthony Morena Acquires Other Property In Williamsburg For $3.5M
346 Metropolitan Ave, Brooklyn, NY 11211, USA
See Similar DealsIndustrial2,100 SF
Financed 07/02/2019
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$1,666
Total Square Footage:2,100 SF
Transaction Type:Loan
The property located at 346 Metropolitan Avenue in Brooklyn, Williamsburg was recently involved in a closed transaction. The property is an Other type asset with a square footage of 2,100. The lender in this deal was rosenthal''>Rosenthal & Rosenthal, providing a loan amount of $3,500,000. The loan terms were set at 8.75% floating at 3.25% over Prime. The landlord of the property is Anthony Morena. The broker representing the deal was Michael Volpe from Highcap Group.
Summary of transaction details
- Property Type: Other
- Transaction Amount: $3,500,000
- Lender: Rosenthal & Rosenthal
- Landlord: Anthony Morena
- Broker: Michael Volpe - Highcap Group
- Square Footage: 2,100
The key individuals and companies involved in this transaction include Anthony Morena as the landlord of the property and Michael Volpe from Highcap Group as the broker representing the deal. The lender, Rosenthal & Rosenthal, provided the loan for the transaction with the terms set at 8.75% floating at 3.25% over Prime.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,500,000.00
Monthly NOI$23,333.33
Monthly Debt Service$22,122.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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