Secures $1.85 Million Acquisition Loan For Mixed-Use Property In Ridgewood
679 Grandview Avenue
$1,850,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 2, 2025
About this deal
AI
The asset involved in this transaction is a mixed-use property located at 679-681 Grandview Avenue in the Ridgewood market. The acquisition involved a loan amount of $1,850,000 with fixed rate, non-recourse terms, aimed at facilitating the purchase by the borrower.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,850,000
- Lender: Pacific National Bank
- Landlord:
- Broker: Gabe Icikson - Meridian Capital Group
- Loan Type: Acquisition
- Loan Terms: Fixed rate, non-recourse
Gabe Icikson, representing Meridian Capital Group, played a crucial role in successfully obtaining a non-recourse loan for a first-time borrower, highlighting the expertise in navigating such financial arrangements.
On the Map
$1,850,000
Mixed-use
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Ridgewood 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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93