TriState Bank Provides $3.7M Loan For Mixed-Use Properties In Bronx & Staten Island
387 Bedford Park Boulevard, Bronx, NY 10458
$3,700,000
$474/SF
Building Size
7,800 SF
Asset Type
Mixed-use
Closing
Oct 19, 2020
About this deal
AI
A mixed-use property located at 387 Bedford Park Blvd. in the Bronx and 2052 Richmond Rd. in Staten Island has recently closed in a transaction. The property consists of a combination of residential and commercial spaces.
Summary of transaction details:
- Property Type: Mixed-use
- Market: Bronx & Staten Island
- Lender: TriState Bank
- Broker: Brian Anderson of Progress Capital
- Loan Amount: $3,700,000
- Loan Terms: 3.55% Fixed for 10 Years
The lender in this transaction was TriState Bank, while Brian Anderson of Progress Capital acted as the broker.
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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93