LMF Commercial (A Lennar Co.) Refinances Mixed-Use Property In Upper Manhattan For $3.57M
FINANCED
$3,570,000
New York
See Similar DealsMixed-use9,440 SF
Financed 01/19/2022
FINANCED
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
See Similar DealsMixed-use9,440 SF
Financed 01/19/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$378
Total Square Footage:9,440 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,570,000.00
Monthly NOI$23,800.00
Monthly Debt Service$22,564.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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