Barclays Bank Provides $38M Loan For Mixed-Use Property In Mott Haven
FINANCED
$38,000,000
New York
See Similar DealsMixed-use84,000 SF
Financed 07/23/2021
FINANCED
Barclays Bank Provides $38M Loan For Mixed-Use Property In Mott Haven
356-362 East 148th Street, West Bronx, Bronx, NY, USA
See Similar DealsMixed-use84,000 SF
Financed 07/23/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$452
Total Square Footage:84,000 SF
Transaction Type:Loan
The mixed-use property located at 356-362 East 148th Street in Mott Haven has been involved in a closed transaction. The property spans approximately 84,000 square feet and is a part of the market in Mott Haven.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $38,000,000
- Address: 356-362 East 148th Street
- Market: Mott Haven
- Landlord: Manatus Development Group - Justin Stern & ParkIt Management - Gary Spindler
The lender for this transaction is Barclays Bank. The loan amount of $38,000,000 is structured with 10-year fixed rate terms and full term interest-only payments. Max Ralby, representing HKS Real Estate Advisors, served as the broker for this deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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