Mehra Family Secures $2.6 Million Refinance Loan From Joseph E. Fingerman & Kenneth Stagnari In Park Slope Brooklyn
24 28 8th Avenue
$2,600,000
$653/SF
Building Size
3,980 SF
Asset Type
Mixed-use
Closing
May 8, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 24-28 8th Avenue in the Park Slope neighborhood of Brooklyn. The total square footage of the asset is 3,980 square feet, highlighting its diverse usage potential in a vibrant urban market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,600,000
- Loan Type: Refinance
- Lender: Joseph E. Fingerman & Kenneth Stagnari - Peapack Private Bank & Trust
- Landlord: Mehra Family
- Date of Transaction: 5/9/2025
The key individuals in this transaction are Joseph E. Fingerman and Kenneth Stagnari, who represent Peapack Private Bank & Trust as lenders. Their involvement is essential in facilitating the refinancing for the property owned by the Mehra Family.
On the Map
$2,600,000
$653/SF
Mixed-use
View full map
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Kenneth Stagnari to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93