Banco Popular Provides $33.1M Construction Loan For Mixed-use Building In Park Slope, Brooklyn
FINANCED
$33,100,000
New York
See Similar DealsMixed-use76,759 SF
Financed 12/28/2023
FINANCED
Banco Popular Provides $33.1M Construction Loan For Mixed-use Building In Park Slope, Brooklyn
Mixed-use76,759 SF
Financed 12/28/2023
Summary
Asset Type:Mixed-use
Price Per Square Foot:$431
Total Square Footage:76,759 SF
Transaction Type:Loan
A mixed-use (6 Story Building) property located at 453 5th Avenue in Park Slope, Brooklyn has been involved in a recent transaction. The property spans over 76,759 square feet and is situated in a vibrant market.
Summary of transaction details
- Property Type: Mixed-use (6 Story Building)
- Transaction Amount: $33,100,000
- Lender: Banco Popular
- Landlord: RJ Capital Holdings
- Brokers: Eli Serebrowski, Morris Betesh & Alex Bailkin - Meridian Capital Group
- Loan Type: Construction
Eli Serebrowski, Morris Betesh, and Alex Bailkin from Meridian Capital Group played a pivotal role in facilitating this transaction. The loan for the property was provided by Banco Popular, and RJ Capital Holdings acted as the landlord.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$33,100,000.00
Monthly NOI$220,666.67
Monthly Debt Service$209,214.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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