LMF Commercial Provides $2.54M Refinance Loan For Flatbush Mixed-Use Property
$2,540,000
$373/SF
Building Size
6,800 SF
Asset Type
Mixed-use
Closing
May 31, 2023
About this deal
AI
A mixed-use property located in Flatbush with a square footage of 6,800 is the subject of a recent loan transaction.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,540,000
- Market: Flatbush
Nihad Choudhury from LMF Commercial served as the lender for this loan transaction. The loan type was a refinance, with the following terms: CMBS, 10-year full IO, 71% LTV, and 1.20x IO DSCR.
Jake Gluck from Fortune Capital Group represented the buyer as the broker in this deal.
Players
Market 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
6.25%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93