Ponce Bank Provides $6.5M Refinance Loan For 35,000 SF Mixed-Use Property On Southern Blvd In Bronx
1515 Southern Boulevard
$6,500,000
$185/SF
Building Size
35,000 SF
Asset Type
Mixed-use
Closing
Dec 23, 2022
AI
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.
Players
Bronx 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93