Infinity Real Estate And Nightingale Properties Refinance Mixed-Use Property In Midwood, NY For $65.5M
1630 E 15th St, Brooklyn, NY 11229, USA
$65,500,000
$284/SF
Building Size
230,000 SF
Asset Type
Mixed-use
Closing
Jan 18, 2018
About this deal
AI
The mixed-use property located at 1630 East 15th Street in Midwood, NY has undergone a refinancing transaction. The property spans 230,000 square feet and the transaction amounted to $65,500,000. The landlord of the property is Infinity Real Estate represented by Steven Kassin, and Nightingale Properties represented by Elie Schwartz. The lender in this transaction is LoanCore Capital.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $65,500,000
- Address: 1630 East 15th Street, Midwood, NY
- Landlord: Infinity Real Estate - Steven Kassin; Nightingale Properties - Elie Schwartz
- Lender: LoanCore Capital
This refinancing deal involved key individuals and companies such as Steven Kassin of Infinity Real Estate and Elie Schwartz of Nightingale Properties. The transaction enabled the landlord to secure a new loan from LoanCore Capital, ensuring the continued operation and management of the mixed-use property located at 1630 East 15th Street in Midwood, NY.
Players
Brooklyn 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93