LMF Commercial Provides $9.2M Refinance Loan For Mixed-use Property In Flatbush
FINANCED
$9,200,000
New York
See Similar DealsMixed-use23,791 SF
Financed 05/09/2024
FINANCED
LMF Commercial Provides $9.2M Refinance Loan For Mixed-use Property In Flatbush
Mixed-use23,791 SF
Financed 05/09/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$386
Total Square Footage:23,791 SF
Transaction Type:Loan
The mixed-use property located in Flatbush, Brooklyn spans 23,791 square feet. The transaction involved a refinance loan amounting to $9,200,000. The loan terms included a CMBS with a 5-year term, full interest-only payment, and a cash-out feature.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $9,200,000
- Market: Flatbush, Brooklyn
- Lender: Scott Burk & Mike Deford - LMF Commercial
- Broker: Elya Kahn - Greenrock Funding
- Loan Type: Refinance
- Loan Terms: CMBS- 5 Year Term, Full IO, Cash Out
The key individuals involved in the transaction were Mike Deford, Scott Burk, and Elya Kahn. Scott Burk and Mike Deford acted as the lenders representing LMF Commercial. Elya Kahn from Greenrock Funding served as the broker in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,200,000.00
Monthly NOI$61,333.33
Monthly Debt Service$58,150.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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