Metropolitan Bank Provides $15M Acquisition Financing For Retail/Office Property In Harlem
124-132 E 125th St, Manhattan, New York, NY, USA
$15,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 14, 2021
About this deal
AI
The property involved in this transaction is located at 124-132 E. 125th St. in Harlem. It is a retail/office asset.
Summary of transaction details
- Property Type: Retail/Office
- Transaction Amount: $15,000,000
- Market: Harlem
- Loan Type: Acquisition Financing
The lender for this transaction is Metropolitan Bank. The landlord is Jorge Madruga, represented by MADDD Equities. Brad Domenico from Progress Capital acted as the broker.
The loan amount for this transaction is $15,000,000, with a loan term of 2 years interest-only.
The mixed use loan at 124-132 E 125th St, Manhattan, New York, NY, USA in New York, New York financed for $15M in 2021. 124-132 E 125th St, Manhattan, New York, NY, USA is classified as Mixed Use on Traded. Brad Domenico, Jorge Madruga, Progress Capital appear on the loan alongside Progress Capital. This page is the New York, New York file for the 124-132 E 125th St, Manhattan, New York, NY, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 124-132 E 125th St, Manhattan, New York, NY, USA around 2021. Published consideration for 124-132 E 125th St, Manhattan, New York, NY, USA is $15M, dated 2021. Cite this Metropolitan Bank Provides $15M Acquisition Financing For Retail/Office Property In Harlem loan when underwriting similar mixed use product around New York, New York.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93