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222 Lake Avenue

Jake Lapidot Secures $9.25M Refinance Loan For Mixed-Use Property In Yonkers
FINANCEDMixed-use

Jake Lapidot Secures $9.25M Refinance Loan For Mixed-Use Property In Yonkers

222 Lake Avenue

$9,250,000

$168/SF

Building Size

55,000 SF

Asset Type

Mixed-use

Closing

May 13, 2024

AI

The property located at 222 Lake Avenue in Yonkers is a mixed-use asset with a total square footage of 55,000. The recent loan transaction involving this property amounted to $9,250,000 and was a refinancing deal.

Summary of transaction details:

The loan transaction was facilitated by Jake Lapidot from Cooper Horowitz. The deal involved refinancing the property at 222 Lake Avenue in Yonkers, showcasing the expertise of the individuals and the firm in managing such financial transactions.

Players

Jake Lapidot

Institutional Property Advisors

Broker

$298.5M

vol

19 deals

Broker

Yonkers 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

1.71%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93