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2488 Grand Concourse, The B...

Signature Bank Provides $50.4M Refinance Loan For Mixed-Use Property On Grand Concourse In Fordham Manor
FINANCEDMixed-use

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

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

Alan Perlmutter

Gcp Capital Group

Broker

$168.7M

vol

7 deals

Broker
Signature Bank
Signature BankLender

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