LMF Commercial (A Lennar Co.) Refinances Mixed-Use Property In Upper Manhattan For $3.57M
1835 Amsterdam Avenue, New York City, New York 10031, United States
$3,570,000
$378/SF
Building Size
9,440 SF
Asset Type
Mixed-use
Closing
Jan 18, 2022
About this deal
AI
Located at 1835 Amsterdam Ave in Upper Manhattan, this mixed-use property spans approximately 9,440 square feet. The transaction involved a refinance loan.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,570,000
- Date: 01/19/2022
- Address: 1835 Amsterdam Ave
- Market: Upper Manhattan
The lender in this transaction was LMF Commercial, a subsidiary of lennar'>lennar'>lennar'>Lennar Co., and the loan was facilitated by Nihad Choudhury. The terms of the loan included a 10-year fixed term with full interest-only payments and a loan-to-value ratio of 74%.
Isaac Sternhill from IS Realty LLC acted as the broker representing the parties involved in the deal.
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
4.44%
Cash-on-Cash
-1.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93