Maddd Equities & Eli Weiss Refinances Fort George Mixed-Use Property For $20.4M With Freddie Mac Loan
4469 Broadway, Manhattan, New York, NY, USA
$20,400,000
$240/SF
Building Size
84,736 SF
Asset Type
Mixed-use
Closing
Mar 29, 2019
About this deal
AI
A mixed-use property located at 4469 Broadway in Fort George has been refinanced for a loan amount of $20,400,000. The property is owned by Jorge Madruga of Maddd Equities & Eli Weiss and the lender for this transaction is Freddie Mac.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $20,400,000
- Address: 4469 Broadway
- Market: Fort George
Brad Domenico of Progress Capital served as the broker for this deal. The loan has a 12-year fixed full term interest-only repayment structure.
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
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93