LMF Commercial Refinances Mixed-Use Property In Upper Manhattan For $10M
3820 Broadway, New York City, New York 10032, United States
$10,000,000
$296/SF
Building Size
33,680 SF
Asset Type
Mixed-use
Closing
Feb 22, 2022
About this deal
AI
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.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93