LibreMax Capital Provides $85M Loan For Mixed-use Property At 825 E. 141st St., Port Morris, Bronx
825 East 141st Street, The Bronx, NY, USA
$85,000,000
$304/SF
Building Size
278,868 SF
Asset Type
Mixed-use
Closing
Dec 26, 2019
AI
An $85,000,000 loan has been secured for a mixed-use property in Port Morris, Bronx. The property, located at 825 E. 141st St., spans 278,868 square feet and sits on 1.1 acres of land. It consists of a 278,868 square foot office building with 23 parking spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $85,000,000
- Address: 825 E. 141st St.
- Market: Port Morris, Bronx
- Loan: LibreMax Capital
- Landlord: The Altmark Group, The Bluestone Group, Gailil Management
- Broker: Brad Domenico - Progress Capital
The loan was facilitated by Brad Domenico of Progress Capital. The Altmark Group, The Bluestone Group, and Gailil Management are the landlords of the property.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93