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1630 E 15th St, Brooklyn, N...

Updated Dec 19, 2023

Infinity Real Estate And Nightingale Properties Refinance Mixed-Use Property In Midwood, NY For $65.5M
FINANCEDMixed-use

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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Deal FAQ

About $284 per square foot on a published $65.5M for 230,000 square feet (2018).

Browse New York mixed use loans on Traded.

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

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