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Baruch Singer Secures $8.5M Refinance Loan For Mixed-Use Property At 114 Delancey Street

Property Image
FINANCED
$8,500,000

New York

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Mixed-use23,040 SF
Financed 11/26/2024
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Property Image
FINANCED

Baruch Singer Secures $8.5M Refinance Loan For Mixed-Use Property At 114 Delancey Street

114 Delancey Street

See Similar Deals
Mixed-use23,040 SF
Financed 11/26/2024

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$368
Total Square Footage:23,040 SF
Transaction Type:Loan

A mixed-use retail property located at 114 Delancey Street in Manhattan's Lower East Side features a building size of 39,190 BSF and a total square footage of 23,040. The property has undergone refinancing, with a loan amount of $8,500,000 secured for its continued use and development.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $8,500,000
  • Address: 114 Delancey Street
  • Market: Lower East Side
  • Lender: Daniel Shirazi - BDP Assets LLC
  • Landlord: Baruch Singer
  • Loan Type: Refinance

Baruch Singer, the landlord of the property, secured the refinancing loan from BDP Assets LLC, represented by Daniel Shirazi. This transaction highlights significant collaboration between the landlord and the lending institution to facilitate the property’s financial arrangement.

Details

FINANCED
IMAGE: Baruch Singer DATE: 11/26/2024 ADDRESS: 114 Delancey Street MARKET: Lower East Side ASSET TYPE: Mixed-use ~ BSF: 39,190 ~ SF: 23,040 LENDER: Daniel Shirazi - BDP Assets LLC LANDLORD: Baruch Singer LOAN AMOUNT: $8,500,000 LOAN TYPE: Refinance NOTE: Baruch Singer secured an $8.5M refinancing loan from BDP Assets LLC for a mixed-use retail property at 114 Delancey Street in Manhattan's Lower East Side.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,500,000.00

Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00