LMF Commercial Secures $5.65M Refinance Loan In Ridgewood With Nihad Choudhury As Lender
FINANCED
$5,650,000
New York
See Similar DealsMixed-use
Financed 08/30/2023
FINANCED
LMF Commercial Secures $5.65M Refinance Loan In Ridgewood With Nihad Choudhury As Lender
Mixed-use
Financed 08/30/2023
Summary
Asset Type:Mixed-use
Transaction Type:Loan
Nihad Choudhury's LMF Commercial has provided a loan of $5,650,000 for a mixed-use property in Ridgewood. The loan is a refinance, with CMBS terms of 5 years, full interest-only payments, a 75% loan-to-value ratio, and a 31-day closing period.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,650,000
- Lender: Nihad Choudhury - LMF Commercial
- Brokers: Michael Wittow
- Loan Type: Refinance
- Loan Terms: CMBS: 5 year, Full IO, 75% LTV, 31 day close
The loan for this mixed-use property in Ridgewood was facilitated by Nihad Choudhury from LMF Commercial, with Michael Wittow acting as the broker. The transaction involved a loan amount of $5,650,000, with a refinance loan type and specific CMBS terms. The loan-to-value ratio was 75%, and the loan agreement included a 5-year term with full interest-only payments. The closing period for the deal was completed within 31 days.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,650,000.00
Monthly NOI$37,666.67
Monthly Debt Service$35,711.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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