ConnectOne Provides $2.15M Loan For Mixed-use Property In Bay Ridge, Brooklyn
318 Bay Ridge Avenue, Brooklyn, NY, USA
$2,150,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 29, 2020
About this deal
AI
Located at 235-237 65th St. & 318 Bayridge Ave. in the Bay Ridge neighborhood of Brooklyn, this mixed-use property has recently undergone a closed transaction. The property, consisting of both residential and commercial units, was involved in a deal.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: 06/29/2021
- Lender: ConnectOne
- Landlord: Sam Musleh
- Broker: Joe Hach - Leviathan Capital
- Loan Amount: $2,150,000
In this transaction, ConnectOne served as the lender, providing a loan amount of $2,150,000. Sam Musleh acted as the landlord, overseeing the deal. Joe Hach, representing Leviathan Capital, played a key role as the broker.
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
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93