FM Capital Secures $12.25M Refinance Loan For Mixed-Use Property In Park Slope, Brooklyn
406 15th Street
$12,250,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
The mixed-use property located at 406 15th Street in Park Slope, Brooklyn has undergone a refinancing transaction. The loan, amounting to $12,250,000, was provided by CITI. The landlord of the property is LL Locicerro. Avi Eyal and Joshua Pollack from FM Capital represented the borrower in this deal.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $12,250,000
- Address: 406 15th Street, Park Slope, Brooklyn
- Lender: CITI
- Landlord: LL Locicerro
- Brokers: Avi Eyal & Joshua Pollack - FM Capital
- Loan Type: Refinance
For more information and to discuss your next or any financing needs, please contact Avi Eyal at [email protected].
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
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93