Maddd Equities And Joy Construction Acquire Mixed-Use Property In Bronx With $64M Loan From Wells Fargo
FINANCED
$64,000,000
New York
See Similar DealsMixed-use340,000 SF
Financed 07/02/2019
FINANCED
Maddd Equities And Joy Construction Acquire Mixed-Use Property In Bronx With $64M Loan From Wells Fargo
1184 River Ave, The Bronx, NY 10452, USA
See Similar DealsMixed-use340,000 SF
Financed 07/02/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$188
Total Square Footage:340,000 SF
Transaction Type:Loan
Eli Weiss and Jorge Madruga have closed a mixed-use property transaction in the Bronx. The property, located at 1159 and 1184 River Avenue, was acquired by Maddd Equities and Joy Construction. The deal was facilitated by Wells Fargo, who provided a loan amount of $64,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $64,000,000
- Lender: Wells Fargo
- Landlord: Maddd Equities and Joy Construction
Eli Weiss and Jorge Madruga represented Maddd Equities and Joy Construction, respectively, in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,000,000.00
Monthly NOI$426,666.67
Monthly Debt Service$404,523.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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