Spencer Savings Bank Provides $2.5M Loan For Mixed-Use Property In Park Slope
335 Prospect Avenue, South Slope, Brooklyn, NY, USA
$2,500,000
$1,174/SF
Building Size
2,128 SF
Asset Type
Mixed-use
Closing
Aug 16, 2021
AI
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
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
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93