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Manufacturing Firm Secures $52M Loan For Mixed-Use Property In East New York, Brooklyn
FINANCED
$52,000,000
New York
See Similar DealsMixed-use
Financed 10/24/2023
FINANCED
Manufacturing Firm Secures $52M Loan For Mixed-Use Property In East New York, Brooklyn
2864 Atlantic Avenue
See Similar DealsMixed-use
Financed 10/24/2023
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$52,000,000.00
Monthly NOI$346,666.67
Monthly Debt Service$328,675.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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