Alma Bank Provides $2.75 Million Refinance Loan For Mixed-Use Property In Sheepshead Bay
2500 Coney Island Avenue
$2,750,000
$381/SF
Building Size
7,200 SF
Asset Type
Mixed-use
Closing
Jul 11, 2024
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 2500 Coney Island Avenue in Sheepshead Bay, Brooklyn. The asset encompasses a total square footage of 7,200 and is associated with a refinance loan amount of $2,750,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,750,000
- Lender: Alma Bank
- Brokers: Chaim Tessler & Ariel Forman - Meridian Capital Group
- Date: 07/11/2024
Chaim Tessler and Ariel Forman are the brokers representing the deal through Meridian Capital Group, facilitating the refinance process for the property in question.
On the Map
$2,750,000
$381/SF
Mixed-use
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Players
Brooklyn 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93