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Jose R. Medina Secures $6.8 Million Refinance Loan From NewBank For Mixed-Use Building In Bronx
FINANCED
$6,800,000
New York
See Similar DealsMixed-use50,710 SF
Financed 06/20/2024
FINANCED
Jose R. Medina Secures $6.8 Million Refinance Loan From NewBank For Mixed-Use Building In Bronx
250 Willis Avenue
See Similar DealsMixed-use50,710 SF
Financed 06/20/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$134
Total Square Footage:50,710 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,800,000.00
Monthly NOI$45,333.33
Monthly Debt Service$42,980.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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