JP Morgan Chase Provides $6,799,999 Refinance Loan For Mixed-Use Property In Brooklyn
64 Lincoln Road
$6,799,999
$668/SF
Building Size
10,175 SF
Asset Type
Mixed-use
Closing
Aug 26, 2024
AI
The property at 64 Lincoln Road is a mixed-use asset located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. It features a square footage of 10,175 and has secured a loan amount of $6,799,999 through a refinance arrangement.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,799,999
- Address: 64 Lincoln Road
- Market: Prospect-Lefferts Gardens, Brooklyn
- Lender: JP Morgan Chase
- Brokers: Ariel Forman & Chaim Tessler - Meridian Capital Group
- Loan Type: Refinance
Ariel Forman and Chaim Tessler from Meridian Capital Group represented the transaction, facilitating the loan process with JP Morgan Chase as the lender. Their roles were crucial in the refinance of the mixed-use property located at 64 Lincoln Road.
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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93