Express Capital Financing Provides $6.12M Acquisition Loan For Mixed-Use Property In Bronx
540 Concord Avenue, The Bronx, New York 10455, United States
$6,120,000
Units
38
Asset Type
Mixed-use
Closing
Feb 27, 2022
About this deal
AI
A mixed-use property located at 540 Concord Ave in the Bronx has been involved in a recent transaction. The property spans 28,000 square feet and contains 38 units. The loan details for this transaction are as follows:
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,120,000
- Loan Type: Acquisition Loan
- Loan Terms: 90% Acquisition LTV, 18 Month Term, IO
The lender for this transaction is Express Capital Financing, represented by David Chera. The loan amount is $6,120,000 and it is an acquisition loan with terms of 90% acquisition loan-to-value ratio, an 18-month term, and interest-only payments.
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
2.59%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93