David Noor Secures $1.9 Million Refinance Loan From TD Bank For Mixed-Use Property In Bronx
2809 Third Avenue
$1,900,000
$262/SF
Building Size
7,248 SF
Asset Type
Mixed-use
Closing
Jun 26, 2024
AI
The property involved in this transaction is a mixed-use asset located at 2809 Third Avenue in the Mott Haven neighborhood of the Bronx. The property consists of 6 residential units and 1 commercial unit, spanning a total of 7,248 square feet. The loan amount secured for this property is $1,900,000 for a refinance arrangement.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,900,000
- Address: 2809 Third Avenue
- Market: Mott Haven, Bronx
- Lender: TD Bank
- Landlord: David Noor
- Broker: Raviv Gailor & Zachary Grossman - Meridian Capital Group
- Loan Type: Refinance
- Asset Size: 7,248 SF
Raviv Gailor and Zachary Grossman from Meridian Capital Group played critical roles as brokers in facilitating this refinance loan transaction. Their involvement was essential to secure the financing through TD Bank for David Noor, the landlord of the property.
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93