Meridian Capital Group Represents $15M Mixed-Use Refinance Loan For 154 North 7th Street In New York
154 North 7th Street, Brooklyn, New York 11249, United States
$15,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 8, 2022
About this deal
AI
A mixed-use property located at 154 North 7th Street in New York has recently undergone a refinancing transaction. The loan, valued at $15,000,000, was provided by Dime Bank. The terms of the loan include a fixed rate in the low 3's for a duration of 7 years.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $15,000,000
- Address: 154 North 7th Street
- Market: New York
The deal was facilitated by Shamir Seidman and Daniel Neiss of Meridian Capital Group, who represented the borrower. They worked alongside Charlie Terrasi from Dime Bank, who served as the lender's representative in the transaction.
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93