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Sharestates Provides $7.35M Loan For Mixed-Use Property On Clarendon Road In Brooklyn

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FINANCED
$7,350,000

New York

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Mixed-use17,892 SF
Financed 03/25/2021
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Property Image
FINANCED

Sharestates Provides $7.35M Loan For Mixed-Use Property On Clarendon Road In Brooklyn

3116 Clarendon Road, Brooklyn, NY 11226, USA

See Similar Deals
Mixed-use17,892 SF
Financed 03/25/2021
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$410
Total Square Footage:17,892 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Max Echuz & Mike Ramin DATE: 03/25/2021 ADDRESS: 3116 Clarendon Road MARKET: Brooklyn ASSET TYPE: Mixed-use LENDER: @Sharestates - Mike Ramin (@Mike_Loanawitz) LANDLORD: @HighlineAdvisory LOAN AMOUNT: $7,350,000 NOTE FROM LENDER: Sharestates is a Direct National Private Lender 1-4 Family Fix n Flip Large Multi-family Bridge, Mixed-use & Value Add Ground up Construction/Construction Completion Long Term Rental Loans 📧 [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,350,000.00

Monthly NOI$49,000.00
Monthly Debt Service$46,457.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00