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
$8,550,000
$708/SF
Building Size
12,061 SF
Asset Type
Mixed-use
Closing
Feb 28, 2022
AI
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.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.86%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93