LMF Commercial (A Lennar Co.) Provides $8.95M CMBS Refinance Loan For Mixed-Use Building In Upper Manhattan
FINANCED
$8,950,000
New York
See Similar DealsMixed-use27,799 SF
Financed 01/19/2022
FINANCED
LMF Commercial (A Lennar Co.) Provides $8.95M CMBS Refinance Loan For Mixed-Use Building In Upper Manhattan
3450 Broadway, New York City, New York 10031, United States
See Similar DealsMixed-use27,799 SF
Financed 01/19/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$322
Total Square Footage:27,799 SF
Transaction Type:Loan
Located at 3450 Broadway in Upper Manhattan, this mixed-use property spans across 27,799 square feet. The transaction involved a refinance loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,950,000
- Loan Type: Refinance
- Loan Terms: CMBS: 10-yr fixed, full term IO, 69.9% LTV
Nihad Choudhury from LMF Commercial, a lennar'>lennar'>lennar'>Lennar Co., served as the lender for this transaction. Representing the borrower, Isaac Sternhill from IS Realty LLC acted as the broker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,950,000.00
Monthly NOI$59,666.67
Monthly Debt Service$56,570.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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