Citi Bank Provides $8.55M Refinance Loan For Mixed-Use Property On St. Marks Place & 5th Avenue
FINANCED
$8,550,000
New York
See Similar DealsMixed-use12,061 SF
Financed 03/01/2022
FINANCED
Citi Bank Provides $8.55M Refinance Loan For Mixed-Use Property On St. Marks Place & 5th Avenue
138 Saint Marks Place, Brooklyn, New York 11217, United States
See Similar DealsMixed-use12,061 SF
Financed 03/01/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$708
Total Square Footage:12,061 SF
Transaction Type:Loan
A property in Brooklyn has recently undergone a refinance transaction. Located at 138 St. Marks Place and 155 5th Avenue, the mixed-use asset encompasses approximately 12,061 square feet. The deal was completed on 03/01/2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $8,550,000
- Market: Brooklyn
The lender involved in this refinance deal is Citi Bank. The loan terms include a 10-year term, interest-only payment structure, and non-recourse agreement. Abe Cohen and Robert Tobias, represented by broker Robert Tobias from RJT Capital Partners, negotiated the transaction on behalf of the landlord, Conway Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,550,000.00
Monthly NOI$57,000.00
Monthly Debt Service$54,041.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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