Maddd Equities Secures $12.3M Acquisition Loan From Metropolitan Bank For Bronx Mixed-Use Property
998 Brook Ave Bronx, Ny 10451, Usa
$12,265,000
$10/SF
Building Size
1,149,165 SF
Asset Type
Mixed-use
Closing
Jul 3, 2023
About this deal
AI
The mixed-use property located at 998-100 Brook Ave, 1004-1014 Brook Ave, 412-422 & 421-425 East 165th Street in Bronx has been involved in a recent loan transaction. The property encompasses a total of 1,149,165 square feet.
Summary of transaction details
- Property Type: Mixed-Use
- Loan Amount: $12,265,000
- Loan Type: Acquisition
- Lender: Metropolitan Bank
- Landlord: Maddd Equities - Jorge Madruga
- Broker: Brad Domenico (Domenico317) - Progress Capital
Metropolitan Bank has provided a loan amount of $12,265,000 for the acquisition of the property. The lender, in this case, played a crucial role in facilitating the transaction. Maddd Equities, led by Jorge Madruga, acts as the landlord for this property. The deal was brokered by Brad Domenico of Progress Capital.
On the Map
$12,265,000
$10/SF
Mixed-use
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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
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93