Tloa Servicing LLC Provides $6.3M Refinance Loan For Mixed-Use Property At 688-690 9th Avenue, New York
688-690 9th Avenue
$6,300,000
Building Size
—
Asset Type
Mixed-use
Closing
Sep 30, 2022
AI
The mixed-use property located at 688-690 9th Avenue in New York has recently undergone a loan transaction. The loan, valued at $6,300,000, was obtained for the purpose of refinancing. The property is owned by the Pecora Family and is situated in the bustling New York market.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $6,300,000
- Lender: Tloa Servicing LLC - Elie Wolynetz
- Landlord: Pecora Family
- Brokers: Shlomo Weissberg - Meridian Capital Group
Representing the lender in this transaction is Elie Wolynetz from Tloa Servicing LLC. Shlomo Weissberg from Meridian Capital Group acted as the broker in this deal. Their expertise and representation contribute to the successful completion of this refinancing loan for the mixed-use property on 9th Avenue.
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93