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TD Bank Provides $16M Refinance Loan For 70,011 SF Office/Retail Property In Bronx

Property Image
FINANCED
$16,000,000
Brad Domenico
Jorge Madruga

New York

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Office70,011 SF
Financed 08/02/2023
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Property Image
FINANCED

TD Bank Provides $16M Refinance Loan For 70,011 SF Office/Retail Property In Bronx

3170 Webster Avenue

See Similar Deals
Office70,011 SF
Financed 08/02/2023
Brad Domenico
Jorge Madruga
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$228
Total Square Footage:70,011 SF
Transaction Type:Loan

The property at 3170 Webster Avenue in Bronx is an office/retail space with a total square footage of 70,011. The asset is owned by MADDD Equities, headed by Jorge Madruga, and the deal was facilitated by Brad Domenico, representing Progress Capital. The property is located in a vibrant market in Bronx.

Summary of transaction details:

TD Bank has provided a refinance loan of $16,000,000 for the property at 3170 Webster Avenue. This transaction allows MADDD Equities, headed by Jorge Madruga, to secure favorable financing terms. Brad Domenico, representing Progress Capital, played a key role in facilitating the deal, ensuring a successful refinance process for the property.

Players

Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
TD Bank
TD Bank
LENDER
Jorge Madruga
Maddd Equities
Jorge Madruga
23 deals$749.5M volume
LANDLORD

Details

FINANCED
IMAGE: Jorge Madruga & Brad Domenico DATE: 08/02/2023 ADDRESS: 3170 Webster Avenue MARKET: Bronx ASSET TYPE: Office/Retail ~ SF: 70,011 LENDER: TD Bank (@TDBank_US) LANDLORD: MADDD Equities (@Maddd_Equities) - Jorge Madruga BROKERS: Brad Domenico (@Domenico317) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $16,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,000,000.00

Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00