facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Package Deal

/

Loan

/

85 Vermilyea Avenue

Meridian Capital Group Secures $15.96M Refinance Loan For Bronx Package Deal
FINANCEDPackage Deal

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

Avi Weinstock

Meridian Capital Group

Broker

$266.5M

vol

10 deals

Broker

Albert Bozzolo

Flushing Bank

Lender

$49.1M

vol

4 deals

Lender
Flushing Bank
Flushing BankLender

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