Equitas Capital Group Secures $12M Bridge Loan For Office Building In Coney Island, Brooklyn
1938 Coney Island Avenue, Brooklyn, NY 11230
$12,000,000
$326/SF
Building Size
36,810 SF
Asset Type
Office
Closing
Nov 29, 2021
About this deal
AI
The property asset involved in this closed transaction is an office located at 1938 Coney Island Ave. in the Coney Island neighborhood of Brooklyn. The office spans approximately 36,810 square feet.
Summary of transation details
- Property Type: Office
- Transaction Amount: $12,000,000
- Loan Type: Bridge loan
- Loan Terms: 4.75% rate, 65% LTV, 12-month bridge loan with free extensions at client requests
The loan for this transaction was facilitated by Alex Leykind from Equitas Capital Group. Equitas Capital Group specializes in finding tailored solutions for commercial real estate financing needs. They invest time and resources in their clients, understanding their needs and challenges. Their experts work tirelessly to find loans with the lowest rates and highest benefits in a timely manner. To learn more about how Equitas Capital Group can help with commercial property financing, contact them at 646.637.7510.
New York 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93