Maddd Equities Secures $12.3M Acquisition Loan From Metropolitan Bank For Bronx Mixed-Use Property
FINANCED
$12,265,000
New York
See Similar DealsMixed-use1,149,165 SF
Financed 07/03/2023
FINANCED
Maddd Equities Secures $12.3M Acquisition Loan From Metropolitan Bank For Bronx Mixed-Use Property
998 Brook Ave Bronx, Ny 10451, Usa
See Similar DealsMixed-use1,149,165 SF
Financed 07/03/2023
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$10
Total Square Footage:1,149,165 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,265,000.00
Monthly NOI$81,766.67
Monthly Debt Service$77,523.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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