Updated Mar 11, 2025
Ridgewood Savings Bank Provides $1.1M Refinance Loan In Prospect Lefferts Gardens
2535 Church Avenue
$1,100,000
$180/SF
Building Size
6,100 SF
Asset Type
MultiFamily
Closing
Aug 31, 2022
About this deal
AI
The multifamily property located at 2535 Church Ave. in Prospect Lefferts Gardens has undergone a loan refinance deal. The property spans approximately 6,100 square feet and is owned by Rachel Surizon.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,100,000
- Loan Type: Refinance
- Loan Terms: $1,100,000 @ 3.75%; 7 years fixed; 30 year amortization
- Lender: Ridgewood Savings Bank
- Broker: Michael Volpe - Highcap Group
Ridgewood Savings Bank provided the loan for this refinance transaction. The loan amount of $1,100,000 carries an interest rate of 3.75%. The loan has a fixed term of 7 years and will be amortized over 30 years.
On the Map
$1,100,000
$180/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93