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310 85th St, Brooklyn, NY 1...

Dime Community Bank Provides $7.3M Loan For Mixed-Use Property In Brooklyn, Bay Ridge
FINANCEDMixed-use

Dime Community Bank Provides $7.3M Loan For Mixed-Use Property In Brooklyn, Bay Ridge

310 85th St, Brooklyn, NY 11209, USA

$7,300,000

$202/SF

Building Size

36,000 SF

Asset Type

Mixed-use

Closing

Apr 16, 2019

AI

The mixed-use property located at 310 85th Street in Bay Ridge, Brooklyn has been sold in a closed transaction. The property spans over 36,000 square feet and includes both residential and commercial spaces. The transaction was facilitated by broker Charlie Terrasi from Dime Savings Bank and Scott Assouline from Meridian Capital Group.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $7,300,000
  • Lender: Dime Community Bank – Team Terrasi
  • Landlord: Mike Niamonitakis
  • Broker: Charlie Terrasi – Dime Savings Bank & Scott Assouline @meridian.capital.group

The lender for this transaction was Dime Community Bank, represented by Team Terrasi. The property's landlord is Mike Niamonitakis. The deal was successfully closed with the assistance of broker Charlie Terrasi from Dime Savings Bank and Scott Assouline from Meridian Capital Group.

Players

Charlie Terrasi

Broker

$78.3M

vol

4 deals

Broker
Dime Community Bank
Dime Community BankLender

Mike Niamonitakis

Meridian Properties

Landlord

$72.8M

vol

10 deals

Landlord

New York 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

2.17%

Cash-on-Cash

-0.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93