Dime Community Bank Provides $7.5M Refinance Loan For Mixed-Use Property In Hyde Park
FINANCED
$7,500,000
New York
See Similar DealsMixed-use90,000 SF
Financed 08/30/2022
FINANCED
Dime Community Bank Provides $7.5M Refinance Loan For Mixed-Use Property In Hyde Park
1-8 Springwood Circle
See Similar DealsMixed-use90,000 SF
Financed 08/30/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$83
Total Square Footage:90,000 SF
Transaction Type:Loan
The property located at 1-8 Springwood Circle in Hyde Park has been involved in a closed transaction. The mixed-use asset spans a total of 90,000 square feet. The transaction included the refinancing of the property.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $7,500,000
- Lender: Dime Community Bank
- Landlord: Paul Carassone
- Broker: Matthew Albano - GCP Capital Group
- Loan Type: Refinance
- Loan Terms: 10 year 4.5%
The deal involved Paul Carassone as the landlord and Matthew Albano from GCP Capital Group as the broker. Dime Community Bank provided the refinancing loan with a value of $7,500,000 and terms of 10 years at an interest rate of 4.5%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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