Cross River Bank Provides $800,000 Acquisition Loan For Woodmere Office Property At 10 Brower Avenue
10 Brower Avenue, Woodmere, New York 11598, United States
$800,000
$307/SF
Building Size
2,600 SF
Asset Type
Office
Closing
Sep 28, 2022
AI
Located in Woodmere, the office property at 10 Brower Avenue has recently undergone a closed transaction. The property spans a total of 2,600 square feet and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $800,000
- Loan Type: Acquisition
- Loan Terms: 10Y Full Term IO
The loan for the property was provided by Cross River Bank. The broker involved in the deal was Steven Vegh from Westwood Realty Associates.
Players
Woodmere Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
19.83%
Cash-on-Cash
-5.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93