Nazar Nazarov Of LendIQ Provides $1.742M Bridge Loan For Mixed-Use Assets
$1,742,000
$269/SF
Building Size
6,470 SF
Asset Type
Mixed-use
Closing
Apr 11, 2024
About this deal
AI
Anchored in Jamaica, Queens, this mixed-use property spans 6,470 square feet across two adjacent assets. The loan, facilitated by Nazar Nazarov from LendIQ, amounted to $1,742,000, with 90% LTC and 100% Construction financing provided. Argentum stands as the landlord overseeing these properties.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,742,000
- Lender: Nazar Nazarov - LendIQ
- Landlord: Argentum
- Loan Type: Bridge
- Loan Terms: 90% LTC, 100% Construction
LendIQ's involvement in this deal showcases their commitment to providing swift and tailored financing solutions for various property types. For inquiries on multi-family, single-family, mixed-use, and portfolio loans, interested parties can reach out to LendIQ at 1-888-6-LENDIQ or via email at [email protected].
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
9.11%
Cash-on-Cash
-2.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93