Dime Community Bank Provides $25M Refinance Loan For Office In Flatlands, Brooklyn
2557 Nostrand Avenue, Brooklyn, New York 11210, United States
$25,000,000
$500,000/SF
Building Size
50 SF
Asset Type
Office
Closing
Mar 1, 2023
About this deal
AI
Located at 2557 Nostrand Avenue in Flatlands, Brooklyn, this office property encompasses approximately 50,148 square feet. The transaction involved a loan refinancing.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $25,000,000
- Date: 01/03/2023
- Address: 2557 Nostrand Avenue
- Market: Flatlands, Brooklyn
- Lender: Dime Community Bank - Mario Colon
- Landlord: Dov Lebovits
In this transaction, the loan was provided by Dime Community Bank, with Mario Colon representing the bank. The landlord involved in the deal was Dov Lebovits.
The office loan at 2557 Nostrand Avenue, Brooklyn, New York 11210, United States in Brooklyn, New York financed for $25M in 2023. The building is 50 square feet, implying about 500K per square foot on the published price. This page is the Brooklyn, New York file for the 2557 Nostrand Avenue, Brooklyn, New York 11210, United States office financed: pricing, party profiles, and other closed office comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn office set by closing date to see what else financed near 2557 Nostrand Avenue, Brooklyn, New York 11210, United States around 2023. Published consideration for 2557 Nostrand Avenue, Brooklyn, New York 11210, United States is $25M, dated 2023. Cite this Dime Community Bank Provides $25M Refinance Loan For Office In Flatlands, Brooklyn loan when underwriting similar office product around Brooklyn, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93