Manufacturing Firm Secures $52M Loan For Mixed-Use Property In East New York, Brooklyn
2864 Atlantic Avenue
$52,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 24, 2023
About this deal
AI
A manufacturing firm secured $52 million in financing from Cross River Bank for its property located at 2864 Atlantic Avenue in East New York, Brooklyn. The property is categorized as a mixed-use asset and is owned by Lori Korsun-Morra of Iconix.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $52,000,000
- Address: 2864 Atlantic Avenue
- Market: East New York, Brooklyn
Cross River Bank provided the financing for the property, while Lori Korsun-Morra from Iconix is the landlord.
The mixed use loan at 2864 Atlantic Avenue in Brooklyn, New York financed for $52M in 2023. 2864 Atlantic Avenue is classified as Mixed Use on Traded. This page is the Brooklyn, New York file for the 2864 Atlantic Avenue mixed use financed: pricing, party profiles, and other closed mixed use comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn mixed use set by closing date to see what else financed near 2864 Atlantic Avenue around 2023. Published consideration for 2864 Atlantic Avenue is $52M, dated 2023. Cite this Manufacturing Firm Secures $52M Loan For Mixed-Use Property In East New York, Brooklyn loan when underwriting similar mixed use product around Brooklyn, New York.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93