Nir Mor Of Hanover Capital NY Provides $8M Bridge Refinance Loan In Lower East Side
FINANCED
$8,000,000
New York
See Similar DealsMixed-use
Financed 03/29/2024
FINANCED
Nir Mor Of Hanover Capital NY Provides $8M Bridge Refinance Loan In Lower East Side
Mixed-use
Financed 03/29/2024
Summary
Asset Type:Mixed-use
Transaction Type:Loan
The mixed-use property located in Lower East Side, Manhattan, with 12 units spanning 38,500 square feet, underwent a refinancing bridge loan transaction. The loan amount secured for this transaction was $8,000,000, facilitated by Nir Mor of Hanover Capital NY.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,000,000
- Market: Lower East Side, Manhattan
- Units: 12
- Square Footage: 38,500
- Lender: Nir Mor - Hanover Capital NY
- Loan Type: Refinance, Bridge
Nir Mor from Hanover Capital NY played a key role as the lender in this refinancing bridge loan deal, demonstrating expertise in guiding the transaction to completion.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,000,000.00
Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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