Moinian Group Secures $105M Construction Loan For Mixed-Use Property In East New York
FINANCED
$105,000,000
New York
See Similar DealsMixed-use
Financed 05/24/2022
FINANCED
Moinian Group Secures $105M Construction Loan For Mixed-Use Property In East New York
2840 Atlantic Avenue, Brooklyn, New York 11207, United States
See Similar DealsMixed-use
Financed 05/24/2022
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$105,000,000.00
Monthly NOI$700,000.00
Monthly Debt Service$663,671.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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