Moinian Group Secures $105M Construction Loan For Mixed-Use Property In East New York
2840 Atlantic Avenue, Brooklyn, New York 11207, United States
$105,000,000
Building Size
—
Asset Type
Mixed-use
Closing
May 23, 2022
About this deal
AI
Located at 2840 Atlantic Ave. in East New York, this mixed-use property was involved in a recent closed transaction. The property is owned by The Moinian Group, led by Joseph Moinian and Bushburg. The loan for this transaction was provided by Valley Bank and Cross River Bank, with a loan amount of $105,000,000. The loan type for this transaction was construction.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $105,000,000
- Mortgage Lender: Valley Bank & Cross River Bank
- Landlord: The Moinian Group - Joseph Moinian & Bushburg
The individuals and companies involved in this deal include Joseph Moinian and Bushburg as the property's landlords. The loan was provided by Valley Bank and Cross River Bank. The transaction involved the financing of a mixed-use property located at 2840 Atlantic Ave. in East New York.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93