FINANCEDMixed-use
Blue Foundry Bank Provides $15M Refinance Loan For Mixed-Use Property On Myrtle Avenue In Brooklyn NY
869 Myrtle Avenue
$15,000,000
$206/SF
Building Size
72,487 SF
Asset Type
Mixed-use
Closing
Nov 30, 2022
AI
A mixed-use property located at 869 Myrtle Avenue in Brooklyn, NY has undergone a loan transaction.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $15,000,000
The landlord for this property is Signature Acquisitions, and the lender involved in the loan transaction is Blue Foundry Bank. The loan was facilitated by Chaim Greenfeld of Eastern Union Funding.
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93