Jake Gluck & Michael Helmreich Of Fortune Capital Group Secure $12M Refinance Loan In Lower Manhattan
FINANCED
$12,000,000
New York
See Similar DealsMixed-use10,635 SF
Financed 06/25/2024
FINANCED
Jake Gluck & Michael Helmreich Of Fortune Capital Group Secure $12M Refinance Loan In Lower Manhattan
Mixed-use10,635 SF
Financed 06/25/2024
Summary
Asset Type:Mixed-use
Price Per Square Foot:$1,128
Total Square Footage:10,635 SF
Transaction Type:Loan
The mixed-use property located in Lower Manhattan, with a square footage of 10,635, was involved in a refinancing deal for a loan amount of $12,000,000 provided by LMF Commercial. The loan terms include a 5-year fixed term with full-term interest-only amortization, categorized as a CMBS loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,000,000
- Market: Lower Manhattan
- Lender: LMF Commercial
- Brokers: Jake Gluck & Michael Helmreich - Fortune Capital Group
- Loan Type: Refinance
- Loan Terms: 5-Year Term, Full Term Interest Only Amortization, CMBS Loan
Jake Gluck and Michael Helmreich from Fortune Capital Group represented the parties in the transaction. For further personal financing inquiries, individuals can reach out to Michael Helmreich at 973-986-5954 or [email protected].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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