TD Bank Provides $1.45M Refinance Loan For Mixed-use Property At 551 Gates Ave, Brooklyn With GD Capital As The Landlord. Brad Domenico & Frank Stanislaski Of Progress Capital Serve As Brokers
551 Gates Avenue
$1,450,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 29, 2022
AI
The mixed-use property located at 551 Gates Avenue in Brooklyn has undergone a refinancing transaction. The property consists of 5 units and is owned by GD Capital, represented by Mark Guindi. The deal was facilitated by Brad Domenico and Frank Stanislaski from Progress Capital, who acted as brokers in the transaction.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,450,000
- Address: 551 Gates Avenue, Brooklyn
- Market: Brooklyn
- Units: 5
The lender involved in the refinancing deal is TD Bank. Mark Guindi, from GD Capital, served as the landlord. Brad Domenico and Frank Stanislaski, representing Progress Capital, worked as brokers in the transaction.
Players
Brooklyn 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
10.94%
Cash-on-Cash
-3.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93