Sonu Arora Refinances Mixed-Use Property In Park Slope, Brooklyn With $16M Loan From Bank Of America
639 4th Avenue, Brooklyn, NY, USA
$16,000,000
$320/SF
Building Size
50,000 SF
Asset Type
Mixed-use
Closing
Dec 6, 2021
About this deal
AI
Located at 639 4th Avenue in Park Slope, Brooklyn, this mixed-use property spans approximately 50,000 square feet. The property was recently involved in a refinance transaction.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $16,000,000
- Date: 12/06/2021
- Market: Park Slope, Brooklyn
- Asset Type: Mixed-use
In this refinance deal, the lender involved was Bank of America, providing a loan amount of $16,000,000. The loan terms were set for 10 years with interest-only payments. Sonu Arora acted as the landlord in this transaction.
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93