Ponce Bank Provides $2.1M Refinance Loan For Mixed-Use Building In Brooklyn
357 Legion Street
$2,100,000
$456/SF
Building Size
4,605 SF
Asset Type
Mixed-use
Closing
Oct 29, 2025
About this deal
AI
A mixed-use property located at 357 Legion Street in Brooklyn spans a total of 4,605 square feet and consists of 2 units. The property was financed through a loan amounting to $2,100,000 as part of a refinance arrangement with a term of 15 years.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,100,000
- Address: 357 Legion Street
- Market: Brooklyn
- Asset Size: 4,605 SF
- Units: 2
- Lender: Ponce Bank
- Loan Originator: Bo-Yi Ng
- Broker: Sterling Capital Solutions Inc
- Loan Terms: 15 Years
Ponce Bank, through Bo-Yi Ng, was the loan originator facilitating this refinance. Sterling Capital Solutions Inc acted as the broker for this transaction, assisting in navigating the financing process for the mixed-use building in Brooklyn. Note from lender: Ponce Bank is proud to provide a permanent mortgage for a mixed-use building in Brooklyn, reinforcing our commitment to community-focused lending and neighborhood investment.
Players
Brooklyn 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
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93