Cornerstone Capital Financing Secures $2.25M Acquisition Loan For Kensington Mixed-Use Property
FINANCED
$2,252,400
New York
See Similar DealsMixed-use
Financed 03/21/2024
FINANCED
Cornerstone Capital Financing Secures $2.25M Acquisition Loan For Kensington Mixed-Use Property
411 Church Avenue
See Similar DealsMixed-use
Financed 03/21/2024
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
Located at 411 Church Avenue in Kensington, Brooklyn, this mixed-use property was involved in a recent transaction. The property includes a dental practice and real estate, with financing secured by Citi Bank.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,252,400
- Market: Kensington, Brooklyn
- Lender: Citi Bank
- Landlord: Parkesh Bandair
- Brokers: Russell Nova, Anu Nagpal & Igor Zakh - Cornerstone Capital Financing
- Loan Type: Acquisition
- Loan Terms: 25 Year Fixed / 5.25% Rate
The deal was handled by Russell Nova, Anu Nagpal, and Igor Zakh from Cornerstone Capital Financing, positioning the buyer to acquire the asset with a strong existing dental practice. The transaction was a referral from a Realtor partner, showcasing the commitment of the brokers to provide value to medical professionals.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,252,400.00
Monthly NOI$15,016.00
Monthly Debt Service$14,236.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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