Island Federal Credit Union Provides $3.95M Acquisition Loan For Mixed-Use Property In Brooklyn
FINANCED
$3,950,000
New York
See Similar DealsMixed-use5,994 SF
Financed 04/20/2023
FINANCED
Island Federal Credit Union Provides $3.95M Acquisition Loan For Mixed-Use Property In Brooklyn
787 Franklin Ave., Brooklyn, Ny
See Similar DealsMixed-use5,994 SF
Financed 04/20/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$659
Total Square Footage:5,994 SF
Transaction Type:Loan
A mixed-use property located at 787 Franklin Avenue in Brooklyn has been involved in a recent loan transaction. The property consists of 6 units and spans across 5,994 square feet. The transaction took place on April 20, 2023.
Summary of transaction details
- Property Type: Mixed-Use
- Address: 787 Franklin Avenue
- Market: Brooklyn
- Units: 6
- Square Footage: 5,994
- Lender: Island Federal Credit Union
- Broker: Eddie Miro - Progress Capital
- Loan Amount: $3,950,000
- Loan Type: Acquisition
Eddie Miro, representing Progress Capital, served as the broker in this loan transaction. Island Federal Credit Union provided a loan amount of $3,950,000 for the acquisition of the mixed-use property at 787 Franklin Avenue in Brooklyn.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,950,000.00
Monthly NOI$26,333.33
Monthly Debt Service$24,966.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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