LMF Commercial Provides $2.7M Refinance Loan For Mixed-Use Property In Hells Kitchen
$2,700,000
$337/SF
Building Size
8,000 SF
Asset Type
Mixed-use
Closing
Mar 30, 2023
About this deal
AI
A mixed-use property located in Hells Kitchen, with a total square footage of 8,000, was recently involved in a loan transaction.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $2,700,000
The lender for this loan transaction was LMF Commercial, represented by Nihad Choudhury. The loan was of the refinance type, with the terms being a 10-year CMBS loan with full interest-only payments. The closing of the loan took place within 27 days.
Nate Hyman, from an undisclosed brokerage, served as the broker in this transaction.
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
5.88%
Cash-on-Cash
-1.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93