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
About this deal
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.
The mixed use loan at 335 Prospect Avenue, South Slope, Brooklyn, NY, USA in New York, New York financed for $2.5M in 2021. The building is 2,128 square feet, implying about 1.2K per square foot on the published price. Evan Boles, Abe Mann, Progress Capital, Rosewood Realty Group appear on the loan alongside Progress Capital, Rosewood Realty Group, Mann Capital Advisors. This page is the New York, New York file for the 335 Prospect Avenue, South Slope, Brooklyn, NY, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 335 Prospect Avenue, South Slope, Brooklyn, NY, USA around 2021. Published consideration for 335 Prospect Avenue, South Slope, Brooklyn, NY, USA is $2.5M, dated 2021. Cite this Spencer Savings Bank Provides $2.5M Loan For Mixed-Use Property In Park Slope loan when underwriting similar mixed use product around New York, New York.
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