Signature Bank Refinances Office Building At 2450-2458 Grand Concourse In Bronx For $4.8M
2450-2458 Grand Concourse
$4,800,000
$296/SF
Building Size
16,200 SF
Asset Type
Office
Closing
Aug 5, 2022
About this deal
AI
The property involved in the transaction is an office located at 2450-2458 Grand Concourse in the Bronx. The office space spans 16,200 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,800,000
The lender for this transaction was Signature Bank, represented by Joseph Fingerman. The landlord, Jem Realty Management, was represented by Alan J. Jemal. The brokers involved in the deal were Carol Shelby and Eric Schleif from the Meridian Capital Group.
This refinance loan was obtained for the property.
On the Map
$4,800,000
$296/SF
Office
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Players
Bronx 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93