Bank Of Princeton Provides $8 Million Refinance Loan To RE Realty For Brooklyn Mixed-use Property
$8,000,000
$320/SF
Building Size
25,000 SF
Asset Type
Mixed-use
Closing
Jul 26, 2024
AI
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
Market 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93