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
$8,950,000
$322/SF
Building Size
27,799 SF
Asset Type
Mixed-use
Closing
Jan 18, 2022
About this deal
AI
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.
The mixed use loan at 3450 Broadway, New York City, New York 10031, United States in New York, New York financed for $9M in 2022. The building is 27,799 square feet, implying about 322 per square foot on the published price. Named participants on the 3450 Broadway, New York City, New York 10031, United States loan are Isaac Sternhill. This page is the New York, New York file for the 3450 Broadway, New York City, New York 10031, United States 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 3450 Broadway, New York City, New York 10031, United States around 2022. Published consideration for 3450 Broadway, New York City, New York 10031, United States is $9M, dated 2022. Cite this LMF Commercial (A Lennar Co.) Provides $8.95M CMBS Refinance Loan For Mixed-Use Building In Upper Manhattan 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
1.77%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93