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3116 Clarendon Road, Brookl...

Updated Oct 29, 2024

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

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

Sharestates
SharestatesLender

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Deal FAQ

About $410 per square foot on a published $7.4M for 17,892 square feet (2021).

Browse New York mixed use loans on Traded.

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

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