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Mixed Use

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Banco Popular Provides $33....

 Provides $33.1M Construction Loan For Mixed-use Building In Park Slope, Brooklyn
FINANCEDMixed-use

Provides $33.1M Construction Loan For Mixed-use Building In Park Slope, Brooklyn

$33,100,000

$431/SF

Building Size

76,759 SF

Asset Type

Mixed-use

Closing

Dec 28, 2023

AI

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

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 , and acted as the landlord.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$14.3B

vol

241 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Popular Bank
Popular BankLender

Market Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.48%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93