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2809 Third Avenue

David Noor Secures $1.9 Million Refinance Loan From TD Bank For Mixed-Use Property In Bronx
FINANCEDMixed-use

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:

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

Raviv Gailor

Meridian Capital Group

Broker

$2.9M

vol

2 deals

Broker
TD Bank
TD BankLender

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