Meridian Capital Group Secures $15.96M Refinance Loan For Bronx Package Deal
85 Vermilyea Avenue
$15,960,000
Building Size
—
Asset Type
Package Deal
Closing
Sep 14, 2023
AI
The package deal located at 85-87 Vermilyea Avenue, 3400 Tryon Avenue, and 3065 Grand Concourse in the Bronx has recently undergone a refinancing transaction. The property, comprising multiple assets, was involved in a loan deal with a total amount of $15,960,000. The loan was provided by Albert Bozzolo from Flushing Bank.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $15,960,000
- Address: 85-87 Vermilyea Avenue, 3400 Tryon Avenue, and 3065 Grand Concourse
- Market: Bronx
In this refinancing deal, the brokers Avi Weinstock and Ezra Sutton from Meridian Capital Group represented the parties involved. Their expertise and experience in the market played a crucial role in facilitating the transaction.
Players
Market Package Deal Market Snapshot
Boundary boundary · Package Deal · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93