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Ironside Realty's Laith Hermiz Secures $7 Million Acquisition Loan From Lead Bank For Office In Brooklyn
FINANCED
$7,000,000
New York
See Similar DealsOffice
Financed 04/18/2025
FINANCED
Ironside Realty's Laith Hermiz Secures $7 Million Acquisition Loan From Lead Bank For Office In Brooklyn
1435 86th Street
See Similar DealsOffice
Financed 04/18/2025
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
The asset involved in this transaction is an office building situated at 1435 86th Street in Bensonhurst, Brooklyn. The property encompasses 11,290 square feet and has secured a loan amount of $7,000,000, reflecting a price of $619 per built square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $7,000,000
- Lender: Lead Bank
- Landlord: Laith Hermiz - Ironside Realty
The acquisition loan was secured by Ironside Realty’s IR Brooklyn NY, LLC. This financing underscores the growth potential in the Bensonhurst market, with the involvement of Lead Bank as the lending institution.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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