Lakeland Bank Provides $1.8M Acquisition Loan For Mixed-Use Building In Brooklyn
FINANCED
$1,800,000
New York
See Similar DealsMixed-use5,700 SF
Financed 11/15/2021
FINANCED
Lakeland Bank Provides $1.8M Acquisition Loan For Mixed-Use Building In Brooklyn
1407 Foster Avenue, Brooklyn, NY, USA
See Similar DealsMixed-use5,700 SF
Financed 11/15/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$315
Total Square Footage:5,700 SF
Transaction Type:Loan
Located at 1407 Foster Avenue in Brooklyn, this mixed-use property encompasses approximately 5,700 square feet. The property was recently involved in a closed transaction.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,800,000
- Market: Brooklyn
- Lender: Lakeland Bank
- Landlord: Allon Avgi & Ariel Shalom
- Brokers: Frank Stanislaski & Eddie Miro - Progress Capital
An acquisition loan for the amount of $1,800,000 was secured for this property. The loan was provided by Lakeland Bank. The landlords of the property are Allon Avgi and Ariel Shalom. Representing the deal were brokers Frank Stanislaski and Eddie Miro from Progress Capital.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,800,000.00
Monthly NOI$12,000.00
Monthly Debt Service$11,377.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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