Express Capital Financing Provides $6.12M Acquisition Loan For Mixed-Use Property In Bronx
FINANCED
$6,120,000
New York
See Similar DealsMixed-use
Financed 02/28/2022
FINANCED
Express Capital Financing Provides $6.12M Acquisition Loan For Mixed-Use Property In Bronx
540 Concord Avenue, The Bronx, New York 10455, United States
See Similar DealsMixed-use
Financed 02/28/2022
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
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
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,120,000.00
Monthly NOI$40,800.00
Monthly Debt Service$38,682.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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