Ridgewood Savings Bank Provides $11M Loan For Mixed-Use Property In Bronx - Max Ralby Represents The Lender
22-24 Marcy Place, Bronx, NY, USA
$11,000,000
Units
166
Asset Type
Mixed-use
Closing
Jan 28, 2021
About this deal
AI
22-24 Marcy Place, 30 East Clarke Place, 1339, 1414, 1416, 1418 & 1420 Prospect Ave in Bronx has been involved in a recent closed transaction. The mixed-use property consists of 166 units, including 161 residential units and 5 commercial units. This transaction took place on January 29, 2021.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,000,000
- Lender: Ridgewood Savings Bank
- Broker: Max Ralby - @HKSRealEstateAdvisors
Ridgewood Savings Bank provided a loan amount of $11,000,000 for the acquisition of 22-24 Marcy Place, 30 East Clarke Place, 1339, 1414, 1416, 1418 & 1420 Prospect Ave in Bronx. Max Ralby from HKS Real Estate Advisors represented the parties involved in this 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93