Jose R. Medina Secures $6.8 Million Refinance Loan From NewBank For Mixed-Use Building In Bronx
250 Willis Avenue
$6,800,000
$134/SF
Building Size
50,710 SF
Asset Type
Mixed-use
Closing
Jun 20, 2024
AI
The asset involved is a mixed-use building located at 250 Willis Avenue in the Mott Haven area of the Bronx. It encompasses a total square footage of 50,710 and was transacted as part of a refinancing deal.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,800,000
- Date: June 20, 2024
- Lender: NewBank
- Landlord: Jose R. Medina
Jose R. Medina was represented by JRM 250 Realty LLC in securing the refinancing loan. This transaction follows a previous loan from NewBank that had an original amount of $7.3 million.
Players
Bronx 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93