TriState Capital Bank Provides $9.2M Loan For Mixed-Use Property In Bronx
FINANCED
$9,200,000
New York
See Similar DealsMixed-use5,366 SF
Financed 12/28/2020
FINANCED
TriState Capital Bank Provides $9.2M Loan For Mixed-Use Property In Bronx
2490 3rd Avenue, The Bronx, NY, USA
See Similar DealsMixed-use5,366 SF
Financed 12/28/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,714
Total Square Footage:5,366 SF
Transaction Type:Loan
A mixed-use property located at 2490 3rd Avenue in the Bronx has recently been involved in a closed transaction. The property, which encompasses both retail and residential spaces, attracted the attention of TriState Capital Bank as the lender. The loan, finalized on December 28, 2020, amounted to $9,200,000. The landlord, Altmark Group, directly negotiated the deal with the lender. The property offers a total retail space of 6,000 square feet, with some retail units currently available for lease.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $9,200,000
- Address: 2490 3rd Avenue, Bronx
- Market: Bronx
Oren Altmark from Altmark Group can provide more details about the available retail spaces for lease. He can be reached at (718)-401-1511 Ext: 207.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,200,000.00
Monthly NOI$61,333.33
Monthly Debt Service$58,150.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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