Parke Bank Provides $17 Million Refinance Loan For Office Asset At 737 Flushing Avenue Brooklyn
FINANCED
$17,000,000
New York
See Similar DealsMultiFamily73,210 SF
Financed 12/10/2024
FINANCED
Parke Bank Provides $17 Million Refinance Loan For Office Asset At 737 Flushing Avenue Brooklyn
737 Flushing Avenue
See Similar DealsMultiFamily73,210 SF
Financed 12/10/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$232
Total Square Footage:73,210 SF
Transaction Type:Loan
The property asset involved in this transaction is located at 737 Flushing Avenue in the Brooklyn market. This office asset encompasses a total square footage of 73,210. The loan amount for this refinance transaction is $17,000,000, with permanent financing terms provided by the lender, Parke Bank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $17,000,000
- Loan Type: Refinance
- Loan Terms: Permanent financing
- Lender: Parke Bank
- Broker: Charlie Lefkowitz - Fund Me Capital
- Date: 12/10/2024
- Address: 737 Flushing Avenue
- Market: Brooklyn
- Asset Size: 73,210 SF
Key individuals involved in the transaction include Charlie Lefkowitz, acting as the broker representing the financial interests in this deal. Parke Bank serves as the lending entity providing the refinance loan for this office asset, indicating a strategic move to secure permanent financing.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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