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
About this deal
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.
The mixed use loan at 869 Myrtle Avenue in New York, New York financed for $15M in 2022. The building is 72,487 square feet, implying about 206 per square foot on the published price. Chaim Greenfeld, Eastdil Secured appear on the loan alongside Eastdil Secured. This page is the New York, New York file for the 869 Myrtle Avenue mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 869 Myrtle Avenue around 2022. Published consideration for 869 Myrtle Avenue is $15M, dated 2022. Cite this Blue Foundry Bank Provides $15M Refinance Loan For Mixed-Use Property On Myrtle Avenue In Brooklyn NY loan when underwriting similar mixed use product around New York, New York.
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