Comjem Associates Ltd Secures $4,800,000 Refinance Loan For Mixed-Use Asset In Brooklyn
576 Atlantic Avenue
$4,800,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 11, 2026
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 576 Atlantic Avenue in Brooklyn. The lender for this transaction is Peapack Private Bank & Trust, represented by Joseph E. Fingerman and Nicholas LaMorte. The loan amount secured by the borrower, Comjem Associates Ltd., is $4,800,000, which is categorized as a refinance loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,800,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Borrower: Comjem Associates Ltd.
- Loan Type: Refinance
- Transaction Date: 09/11/2026
- Address: 576 Atlantic Avenue
- Market: Brooklyn
This transaction highlights the involvement of Comjem Associates Ltd. as the borrower securing refinancing through Peapack Private Bank & Trust. The deal features representatives Joseph E. Fingerman and Nicholas LaMorte, who play a crucial role as the lender's representatives in facilitating the financial arrangement.
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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93