Sharestates Provides $7.35M Loan For Mixed-Use Property On Clarendon Road In Brooklyn
3116 Clarendon Road, Brooklyn, NY 11226, USA
$7,350,000
$410/SF
Building Size
17,892 SF
Asset Type
Mixed-use
Closing
Mar 24, 2021
About this deal
AI
The mixed-use property located at 3116 Clarendon Road in Brooklyn has undergone a closed transaction. The loan for this property was provided by sharestates''>Sharestates, a direct national private lender. The loan amount was $7,350,000. The landlord for this property is Highline Advisory.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,350,000
- Lender: Sharestates - Mike Ramin
- Landlord: Highline Advisory
Sharestates, represented by Mike Ramin, acted as the lender for this transaction. Sharestates specializes in various types of loans, including 1-4 family fix n flip, large multi-family bridge, mixed-use and value add, ground up construction/construction completion, and long term rental loans. For more information, you can reach out to Sharestates at [email protected].
Players
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
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93