Ponce Bank Provides $6.5M Refinance Loan For 35,000 SF Mixed-Use Property On Southern Blvd In Bronx
FINANCED
$6,500,000
New York
See Similar DealsMixed-use35,000 SF
Financed 12/23/2022
FINANCED
Ponce Bank Provides $6.5M Refinance Loan For 35,000 SF Mixed-Use Property On Southern Blvd In Bronx
1515 Southern Boulevard
See Similar DealsMixed-use35,000 SF
Financed 12/23/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$185
Total Square Footage:35,000 SF
Transaction Type:Loan
Located at 1463 & 1515 Southern Blvd in the Bronx, this mixed-use property spans 35,000 square feet. The recent transaction involved a refinance loan provided by Ponce Bank in the amount of $6,500,000. A loan type of refinance was selected for this deal.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $6,500,000
- Lender: Ponce Bank
- Brokers: Dean Katz - HKS Real Estate Advisors
Dean Katz from HKS Real Estate Advisors played a crucial role as the broker in this transaction. By securing the refinance loan from Ponce Bank, Katz facilitated the financial aspect of the deal.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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