Andrew Impagliazzo Secures $10.8M Refinancing Loan For Bronx Industrial Portfolio
$10,800,000
$201/SF
Building Size
53,660 SF
Asset Type
Industrial
Closing
Oct 17, 2023
AI
Andrew Impagliazzo, acting through 191 Bruckner LLC, has secured a $10.8 million refinancing loan from PCSB Bank for an industrial portfolio in Mott Haven, Bronx. The portfolio includes eight industrial properties, with addresses at 682 East 137th Street, 687 East 137th Street, and 681 East 136th Street. The total square footage of the portfolio is 53,660 square feet, and the market value is $165,070.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,800,000
- Lender: Michael J. Schiliro - PCSB Bank
- Landlord: Andrew Impagliazzo
- Loan Type: Refinance
Michael J. Schiliro from PCSB Bank served as the lender for this refinancing loan. Andrew Impagliazzo, as the landlord, secured the loan through his entity, 191 Bruckner LLC. The loan will be used to refinance the eight industrial properties in Mott Haven, Bronx. The properties, with addresses at 682 East 137th Street, 687 East 137th Street, and 681 East 136th Street, are part of an industrial portfolio with a total square footage of 53,660 square feet.
Players
Market 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
1.47%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93