Bridgehampton National Bank Provides $3.8M Loan For Mixed-Use Property In Brooklyn, Williamsburg
FINANCED
$3,800,000
New York
See Similar DealsMixed-use5,000 SF
Financed 04/06/2020
FINANCED
Bridgehampton National Bank Provides $3.8M Loan For Mixed-Use Property In Brooklyn, Williamsburg
386 Metropolitan Ave, Brooklyn, NY 11211, USA
See Similar DealsMixed-use5,000 SF
Financed 04/06/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$760
Total Square Footage:5,000 SF
Transaction Type:Loan
The property involved in this transaction is a 4-story mixed-use building located at 386 Metropolitan Avenue in Brooklyn's Williamsburg neighborhood. The building is comprised of 6 residential apartments and spans a total of 5,000 square feet. The landlord of the property is Noam Amos & Shai Antebi.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,800,000
- Lender: Bridgehampton National Bank
- Broker: Michael Volpe – @Highcap_Group
- Loan Amount: $3,800,000
- Loan Terms: 3.75% interest, 30-year amortization
- Square Footage: 5,000 SF
The lender for this transaction is Bridgehampton National Bank. The loan amount provided for the property is $3,800,000 with a loan term of 3.75% interest and a 30-year amortization schedule. The broker involved in the deal is Michael Volpe from the Highcap Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,800,000.00
Monthly NOI$25,333.33
Monthly Debt Service$24,018.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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