Peak Capital Secures $3.325 Million Refinance Loan From Provident Bank For Park Slope Asset
FINANCED
$3,325,000
New York
See Similar DealsMixed-use5,900 SF
Financed 07/02/2025
FINANCED
Peak Capital Secures $3.325 Million Refinance Loan From Provident Bank For Park Slope Asset
51 Fifth Avenue
See Similar DealsMixed-use5,900 SF
Financed 07/02/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$563
Total Square Footage:5,900 SF
Transaction Type:Loan
The asset involved in the transaction is a mixed-use property located at 51 Fifth Avenue in Brooklyn, comprising a total square footage of 6,880 and containing 6 units. A refinance loan was secured for this property, amounting to $3,325,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,325,000
- Loan Type: Refinance
- Loan Terms: 3-years, fixed rate, 65% LTV
- Lender: Provident Bank
- Landlord: Peak Capital
- Brokers: Michael Lohan & Mitch Uris - Nineteen Blocks
- Attorney: Anderson Law
Nineteen Blocks represented Peak Capital in securing the loan for this property. The refinancing allows Peak Capital to continue their investment strategy in the Park Slope area, enhancing their portfolio within this well-located market.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,325,000.00
Monthly NOI$22,166.67
Monthly Debt Service$21,016.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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