Metropolitan Commercial Bank Provides $28M Loan For Laconia Nursing Home In Bronx
1050 East 230th Street, Bronx, NY, USA
$28,000,000
$376/SF
Building Size
74,400 SF
Asset Type
Other
Closing
Mar 7, 2021
About this deal
AI
The Laconia Nursing Home, located at 1050 East 230th Street in the Bronx, has secured a loan of $28,000,000 from Metropolitan Commercial Bank. This 74,400 square foot nursing home has successfully completed the transaction, solidifying its financial position in the market.
Summary of Transaction Details
- Property Type: Nursing Home
- Transaction Amount: $28,000,000
- Square Footage: 74,400
- Market: Bronx
Metropolitan Commercial Bank has provided the loan to The Laconia Nursing Home, enabling them to continue providing their valued services within the Bronx market. This loan signifies a significant development for both the nursing home and the lender, establishing a mutually beneficial agreement for financial growth.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93