Signature Bank Provides $50.4M Refinance Loan For Mixed-Use Property On Grand Concourse In Fordham Manor
2488 Grand Concourse, The Bronx, New York 10458, United States
$50,377,640
$514/SF
Building Size
97,957 SF
Asset Type
Mixed-use
Closing
Jun 12, 2022
About this deal
AI
Located in Fordham Manor, the mixed-use property at 2488 Grand Concourse has recently undergone a transaction. The property spans approximately 97,957 square feet and is situated in a bustling market.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $50,377,640
- Address: 2488 Grand Concourse
- Market: Fordham Manor
The loan for this transaction was provided by Signature Bank, with Joseph Fingerman and Gregory Fantauzzi representing the lender. The loan type is a refinance. Wagner Associates, represented by Alan Jemal, is the landlord of the property. The broker responsible for the deal is Alan Perlmutter from GCP Capital Group LLC.
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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93