Arion Fund Provides $3.4M Acquisition Loan For Mixed-Use Property On Myrtle Avenue
FINANCED
$3,400,000
New York
See Similar DealsMixed-use6,000 SF
Financed 03/05/2024
FINANCED
Arion Fund Provides $3.4M Acquisition Loan For Mixed-Use Property On Myrtle Avenue
960 Myrtle Avenue
See Similar DealsMixed-use6,000 SF
Financed 03/05/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$566
Total Square Footage:6,000 SF
Transaction Type:Loan
The mixed-use property located at 960 Myrtle Avenue in Stuyvesant Heights, Brooklyn spans over 6,000 square feet. The acquisition loan for this property amounted to $3,400,000 and was provided by Arion Fund, with Amit Stern and Eli Ben-Meir serving as the lenders.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,400,000
- Address: 960 Myrtle Avenue
- Market: Stuyvesant Heights, Brooklyn
- Lender: Arion Fund - Amit Stern & Eli Ben-Meir
The individuals involved in this transaction include Amit Stern and Eli Ben-Meir, who are part of the Arion Fund that provided the acquisition loan for the mixed-use property at 960 Myrtle Avenue.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,400,000.00
Monthly NOI$22,666.67
Monthly Debt Service$21,490.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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