Dime Community Bank Provides $3.065M Loan For Mixed-Use Property In Hell's Kitchen
FINANCED
$3,065,000
New York
See Similar DealsMixed-use6,828 SF
Financed 03/11/2019
FINANCED
Dime Community Bank Provides $3.065M Loan For Mixed-Use Property In Hell's Kitchen
776 9th Avenue, Manhattan, New York, NY, USA
See Similar DealsMixed-use6,828 SF
Financed 03/11/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$448
Total Square Footage:6,828 SF
Transaction Type:Loan
A mixed-use property located at 776 9th Avenue in Hells Kitchen has recently undergone a loan transaction. The property spans across 6,828 square feet and is owned by Lags Realty LLC, represented by Michael Lags. The loan, amounting to $3,065,000, was provided by Dime Community Bank, with Charlie Terrasi acting as the lender's representative.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,065,000
- Address: 776 9th Avenue
- Market: Hells Kitchen
- Square Footage: 6,828
- Landlord: Lags Realty LLC - Michael Lags
- Lender: Dime Community Bank - Charlie Terrasi
- Loan Terms: 7+5
The key individuals involved in this loan transaction are Charlie Terrasi, representing Dime Community Bank, and Michael Lags, who acts as the representative of Lags Realty LLC.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,065,000.00
Monthly NOI$20,433.33
Monthly Debt Service$19,372.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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