Spencer Savings Bank Provides $2.5M Loan For Mixed-Use Property In Park Slope
FINANCED
$2,500,000
New York
See Similar DealsMixed-use2,128 SF
Financed 08/17/2021
FINANCED
Spencer Savings Bank Provides $2.5M Loan For Mixed-Use Property In Park Slope
335 Prospect Avenue, South Slope, Brooklyn, NY, USA
See Similar DealsMixed-use2,128 SF
Financed 08/17/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$1,174
Total Square Footage:2,128 SF
Transaction Type:Loan
335 Prospect Avenue in Park Slope has seen a recent closed transaction. The mixed-use property involved in this transaction was financed with a loan from Spencer Savings Bank. The loan amount of $2,500,000 represents a 75% Loan-to-Value (LTV) cash out.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,500,000
- Address: 335 Prospect Avenue
- Market: Park Slope
Abe Mann and Evan Boles of Progress Capital represented the landlord, Yosef Streicher, in this transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,500,000.00
Monthly NOI$16,666.67
Monthly Debt Service$15,801.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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