Conway Capital Secures $8.25M Loan For Mixed-Use Property On Atlantic Avenue, Brooklyn
FINANCED
$8,250,000
New York
See Similar DealsMixed-use6,000 SF
Financed 07/09/2020
FINANCED
Conway Capital Secures $8.25M Loan For Mixed-Use Property On Atlantic Avenue, Brooklyn
214-218 Atlantic Avenue, Brooklyn, NY, USA
See Similar DealsMixed-use6,000 SF
Financed 07/09/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,375
Total Square Footage:6,000 SF
Transaction Type:Loan
214-218 Atlantic Avenue in Brooklyn has been involved in a recent closed property transaction. This mixed-use property has attracted attention in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $8,250,000
- Address: 214-218 Atlantic Avenue
- Market: Brooklyn
The lender in this transaction was LMF Commercial, which is a part of Lennar Co. The loan brokers who facilitated the deal were Jonathan Singer from Strategic Funding Corp. and Robert Tobias from RJT Capital Partners.
The loan amount for this transaction was $8,250,000, and the loan terms were for a 10-year fixed period with full interest-only payments.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,250,000.00
Monthly NOI$55,000.00
Monthly Debt Service$52,145.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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