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253 Van Brunt Street

IceCap Group Refinances Mixed-Use Property In Red Hook For $3.3M
FINANCEDMixed-use

IceCap Group Refinances Mixed-Use Property In Red Hook For $3.3M

253 Van Brunt Street

$3,300,000

$523/SF

Building Size

6,300 SF

Asset Type

Mixed-use

Closing

Aug 8, 2022

AI

253 Van Brunt St. in Red Hook has been recently refinanced with a loan amount of $3,300,000. This mixed-use property spans over 6,300 square feet and is located in the vibrant market of Red Hook. The loan was secured by ICECap Group and represented by Mordi Lati and Ezra Dweck. The landlord of the property is Lee Cohen.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $3,300,000
  • Address: 253 Van Brunt St.
  • Square Footage: 6,300
  • Market: Red Hook

The loan, provided by ICECap Group, was successfully closed within one week of signing the term sheet. The timely refinancing allowed for the payment of the maturing debt on the property. This demonstrates the efficiency and cooperation of all parties involved in the transaction. For any inquiries regarding the loan, Mordi Lati of ICECap Group can be contacted at 917.294.1180 or [email protected].

Players

Mordi Lati

Broker

$7.1M

vol

2 deals

Broker
Ice Cap Group
Ice Cap GroupLender
Lee Cohen

Lee Cohen

RedHoek

Landlord

$299M

vol

25 deals

Landlord

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

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93