Bank Of Princeton Provides $8 Million Refinance Loan To RE Realty For Brooklyn Mixed-use Property
FINANCED
$8,000,000
New York
See Similar DealsMixed-use25,000 SF
Financed 07/26/2024
FINANCED
Bank Of Princeton Provides $8 Million Refinance Loan To RE Realty For Brooklyn Mixed-use Property
Mixed-use25,000 SF
Financed 07/26/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$320
Total Square Footage:25,000 SF
Transaction Type:Loan
The asset involved in this transaction is a mixed-use property located in Brooklyn, encompassing a total of 25,000 square feet. The loan amount secured for this property is $8,000,000, under a refinance arrangement.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,000,000
- Lender: Bank of Princeton
- Landlord: RE Realty
- Brokers: Jake Gluck & Michael Helmreich - Fortune Capital Group
- Loan Type: Refinance
- Date: 7/25/2024
- Market: Brooklyn
The key individuals involved in this transaction include Jake Gluck and Michael Helmreich, who represent the brokerage firm Fortune Capital Group in this deal. For financing needs, interested parties can contact Jake Gluck at 973-713-6673 or via email at [email protected].
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,000,000.00
Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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