L&M Development, Taconic Partners & BFC Partners Secure $39.7M Refinance Loan For Coney Island Office Space
FINANCED
$39,700,000
+ 1
New York
See Similar DealsOffice65,833 SF
Financed 05/13/2022
FINANCED
L&M Development, Taconic Partners & BFC Partners Secure $39.7M Refinance Loan For Coney Island Office Space
1912 Mermaid Avenue, Brooklyn, New York 11224, United States
See Similar DealsOffice65,833 SF
Financed 05/13/2022
+ 1
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$603
Total Square Footage:65,833 SF
Transaction Type:Loan
The property involved in this closed transaction is an office building located at 1912 Mermaid Ave. in Coney Island. The building has a total square footage of 65,833 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $39,700,000
- Market: Coney Island
The loan for this transaction was provided by Mesirow Financial. The landlords involved in the deal are L+M Development, Taconic Partners, and BFC Partners. The brokers representing the parties involved in the transaction are Walker & Dunlop. The loan amount for this refinance is $39,700,000 with a 10-year fixed rate term.
Players
LENDER
LANDLORD
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,700,000.00
Monthly NOI$264,666.67
Monthly Debt Service$250,931.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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