Popular Bank Refinances Nursing Home In Flatbush For $62.5M
464 East 22nd Street, New York City, New York 10010, United States
$62,500,000
$375/SF
Building Size
166,628 SF
Asset Type
Other
Closing
Jul 25, 2022
About this deal
AI
A nursing home located at 464 East 22nd Street & 2107 Ditmas Avenue in Flatbush, with a total square footage of 166,628, has undergone a refinancing deal. The loan was provided by Popular Bank with a loan amount of $62,500,000. The landlord of the property is Shabsey Oberlander.
Summary of transaction details
- Property Type: Nursing Home
- Transaction Amount: $62,500,000
- Market: Flatbush
- Address: 464 East 22nd Street & 2107 Ditmas Avenue
- Loan Type: Refinance
This refinancing deal involved the lender, Popular Bank, and the landlord, Shabsey Oberlander. Shabsey Oberlander represents the interests of the landlord in this transaction.
On the Map
$62,500,000
$375/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93