LMF Commercial Refinances Mixed-Use Property In Upper Manhattan For $10M
FINANCED
$10,000,000
New York
See Similar DealsMixed-use33,680 SF
Financed 02/23/2022
FINANCED
LMF Commercial Refinances Mixed-Use Property In Upper Manhattan For $10M
3820 Broadway, New York City, New York 10032, United States
See Similar DealsMixed-use33,680 SF
Financed 02/23/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$296
Total Square Footage:33,680 SF
Transaction Type:Loan
The mixed-use property located at 3820 Broadway in Upper Manhattan has recently undergone a loan refinancing transaction. The property spans a total of 33,680 square feet and is situated in a vibrant market area. The loan is provided by LMF Commercial, a subsidiary of lennar'>lennar'>lennar'>Lennar Co., and the representative handling the deal is Nihad Choudhury. The loan amount for this refinancing deal is $10,000,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: CMBS, 10-year fixed, full term IO, 73% LTV
- Market: Upper Manhattan
- Address: 3820 Broadway
- Size: 33,680 square feet
Isaac Sternhill from IS Realty LLC represented the borrower in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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