Mercury Capital Markets Arranges $4.25M Loan For Mixed-Use Property In Brooklyn
320 Court Street, Brooklyn, NY 11231
$4,250,000
$1,062/SF
Building Size
4,000 SF
Asset Type
Mixed-use
Closing
Mar 31, 2019
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 320 Court St in the Brooklyn market. The lender for this transaction is Colorado Federal Savings Bank, and it encompasses a loan amount of $4,250,000. The loan is structured as a cash-out refinance with a one-year interest-only period.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $4,250,000
- Lender: Colorado Federal Savings Bank
- Landlord: Seth Weissman @urbanstandardcap
- Broker: Eric Gleitman – Mercury Capital Markets
The key individuals involved in this transaction include Seth Weissman, who represents the landlord in the deal, and Eric Gleitman, serving as the broker. Their roles were pivotal in facilitating the closing of this financing arrangement.
On the Map
$4,250,000
$1,062/SF
Mixed-use
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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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93