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

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FINANCED
$7,300,000

New York

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Mixed-use36,000 SF
Financed 04/17/2019
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Property Image
FINANCED

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

310 85th St, Brooklyn, NY 11209, USA

See Similar Deals
Mixed-use36,000 SF
Financed 04/17/2019
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$202
Total Square Footage:36,000 SF
Transaction Type:Loan

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

4 deals$78.3M volume(718) 757-8862
BROKER

MN
10 deals$72.8M volume(718) 439-1800
BROKER

Dime Community Bank
LENDER

10 deals$72.8M volume
LANDLORD

10 deals$72.8M volume
LANDLORD

Details

FINANCED
IMAGE: Charlie Terrasi & Scott Assouline DATE: 04/17/2019 ADDRESS: 310 85th Street MARKET: Brooklyn, Bay Ridge ASSET TYPE: Mixed-use LENDER: Dime Community Bank – Team Terrasi LANDLORD: Mike Niamonitakis BROKER: Charlie Terrasi – Dime Savings Bank & Scott Assouline @meridian.capital.group LOAN AMOUNT: $7,300,000 SF: 36,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,300,000.00

Monthly NOI$48,666.67
Monthly Debt Service$46,140.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00