Natixis Provides $21M Acquisition Loan For Bronx Parking Lots
1150 River Avenue, The Bronx, NY, USA
$21,000,000
Building Size
—
Asset Type
Other
Closing
Aug 21, 2018
About this deal
AI
A loan was secured for the acquisition of a parking lot property located at 1150-1159 River Avenue in the Concourse area of the Bronx. The loan was provided by natixis''>Natixis for an amount of $21,000,000.
Summary of transaction details
- Property Type: Parking Lots
- Transaction Amount: $21,000,000
- Address: 1150-1159 River Avenue
- City: Bronx
- Market: Concourse
- Lender: Natixis
The property was acquired by Jorge Madruga of Maddd Equities and Eli Weiss of Joy Construction, who served as the landlords in the transaction. The deal was facilitated by Brad Domenico, a partner at Progress Capital, acting as the broker.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93