Bronx Mixed-use Property Secures $6M Loan From LMF Commercial - Nihad Choudhury
2542A White Plains Road, Bronx, NY, USA
$6,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Aug 12, 2021
About this deal
AI
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,000,000
- Address: 2542A, 2544A, 2546A & 2548A White Plains Road, Bronx
- Market: Bronx
- Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
- Landlord: Barry Singer
- Broker: Jonathan Singer - Strategic Funding Corp.
- Loan Terms: CMBS: 10-yr fixed, 5-yr IO
The mixed use loan at 2542A White Plains Road, Bronx, NY, USA in New York, New York financed for $6M in 2021. 2542A White Plains Road, Bronx, NY, USA is classified as Mixed Use on Traded. Jonathan Singer, Strategic Funding appear on the loan alongside Strategic Funding. This page is the New York, New York file for the 2542A White Plains Road, Bronx, NY, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 2542A White Plains Road, Bronx, NY, USA around 2021. Published consideration for 2542A White Plains Road, Bronx, NY, USA is $6M, dated 2021. Cite this Bronx Mixed-use Property Secures $6M Loan From LMF Commercial - Nihad Choudhury loan when underwriting similar mixed use product around New York, New York.
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New York Mixed-use Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93