facebook
Traded Co logo
Submit a Deal
502 86th Street
FINANCED

Ripco Arranges $29M Bridge Loan For Mixed-Use Asset In Brooklyn

502 86th Street

Mixed-use
clock iconFinanced 64 days ago
Steven Sperandio
Jake Weiss
Michael Fasano
the dealplayerscompscontact
share iconContact now

Summary

Loan
NEW YORK
Mixed-use

The mixed-use property located at 502 86th Street in Brooklyn was involved in a recent transaction. ASG Equities served as the landlord, while Bayview Asset Management provided a $29,000,000 bridge loan for the property. The loan was sourced by RIPCO’s D&SF team and will be used to fund a lease-up plan and capital improvement projects related to New York-Presbyterian’s anchor lease along a prime corridor in Bay Ridge, Brooklyn.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $29,000,000
  • Address: 502 86th Street
  • Market: Brooklyn
  • Landlord: ASG Equities
  • Lender: Bayview Asset Management
  • Brokers: Steven Sperandio (Ripcocapitaladvisory) - Ripco, Michael Fasano - Ripco, Jake Weiss (Jakeweiss6) - Ripco
  • Loan Type: Bridge

Steven Sperandio, Michael Fasano, and Jake Weiss played key roles in the transaction, representing their respective companies in the deal. The loan will facilitate the enhancement of the mixed-use asset, supporting the lease-up strategy and capital improvement initiatives aimed at New York-Presbyterian’s lease within the prime location of Bay Ridge, Brooklyn.

Players

  • All

    5

  • Agents

    3

  • Agencies

    1

  • Lenders

    1

Steven Sperandio's profile picture
Steven Sperandio
Ripco-image
Executive Managing Director, Debt & Structured Finance
$1.3M Sold
Michael Fasano's profile picture

Details

Deal Summary
minus icon
FINANCED
IMAGE: Steven Sperandio, Michael Fasano & Jake Weiss DATE: 04/18/2024 ADDRESS: 502 86th Street MARKET: Brooklyn ASSET TYPE: Mixed-use LANDLORD: ASG Equities LENDER: Bayview Asset Management BROKERS: Steven Sperandio (Ripcocapitaladvisory ) - Ripco, Michael Fasano - Ripco, Jake Weiss (Jakeweiss6) - Ripco LOAN AMOUNT: $29,000,000 LOAN TYPE: Bridge NOTE FROM BROKER: RIPCO’s D&SF team sourced a $29,000,000 bridge loan to fund the lease-up plan for a mixed-use asset along a prime corridor in Bay Ridge, Brooklyn. Proceeds from the loan will be used to fund a significant capital improvement plan associated with New York-Presbyterian’s anchor lease. -use

View on map

Loading...

Address502 86th Street

Comparables

No listingsThis user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want