Arbor Realty Trust Provides $3.3M Loan For Mixed-Use Property On Second Ave In Sunset Park, Brooklyn
5407 2nd Avenue, Brooklyn, NY, USA
$3,325,000
$163/SF
Building Size
20,300 SF
Asset Type
Mixed-use
Closing
Dec 30, 2020
About this deal
AI
A mixed-use property located at 5407 Second Ave in Sunset Park, Brooklyn was involved in a recent closed transaction. The property is situated in a vibrant market and offers a variety of uses.
Summary of transaction details:
- Property Type: Mixed-use
- Address: 5407 Second Ave
- Market: Sunset Park, Brooklyn
In this transaction, a loan of $3,325,000 was secured from Arbor Realty Trust. The loan terms include a 10-year fixed rate of 3.00% and a 30-year amortization schedule. The loan is considered non-recourse, with a step-down prepayment penalty. The closing timeframe for this deal was 60 days.
Alex Leykind from Equitas Capital Group represented the parties involved in the transaction.
For any commercial financing needs, you can contact Equitas Capital Group directly at 646-637-7510.
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
4.77%
Cash-on-Cash
-1.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93