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Rockfeld Group Secures $6.5M Refinancing Loan For Retail Properties In Sheepshead Bay, Brooklyn

Property Image
FINANCED
$6,500,000

New York

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Retail22,942 SF
Financed 05/03/2023
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Property Image
FINANCED

Rockfeld Group Secures $6.5M Refinancing Loan For Retail Properties In Sheepshead Bay, Brooklyn

1123 Kings Hwy Brooklyn, NY 11229, USA

See Similar Deals
Retail22,942 SF
Financed 05/03/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$283
Total Square Footage:22,942 SF
Transaction Type:Loan

The Rockfeld Group, led by Steven Feldman, secured a refinancing loan of $6.5 million from Northfield Bank for seven properties in Sheepshead Bay, Brooklyn. The properties include retail buildings located at 1123 Kings Highway, 1103 Kings Highway, and 1101 Kings Highway. The total square footage of the retail space amounts to 22,942 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $6,500,000
  • Market: Sheepshead Bay, Brooklyn
  • Loan Type: Refinance
  • Lender: Northfield Bank (William G. Krejci)
  • Landlord: Rockfeld Group (Steven Feldman)

William G. Krejci, from Northfield Bank, served as the lender for this refinancing loan. The loan was obtained by Steven Feldman's Rockfeld Group for their retail properties on Kings Highway in Sheepshead Bay, Brooklyn.

Details

FINANCED
IMAGE: 05/03/2023 ADDRESS: 1123 Kings Highway, 1103 Kings Highway & 1101 Kings Highway MARKET: Sheepshead Bay, Brooklyn ASSET TYPE: Retail ~ SF: 22,942 LENDER: Northfield Bank (@NorthfieldBank) - William G. Krejci LANDLORD: Rockfeld Group - Steven Feldman LOAN AMOUNT: $6,500,000 LOAN TYPE: Refinance NOTE: Steven Feldman's Rockfeld Group secured a refinancing loan of $6.5 million from Northfield Bank for seven properties, including retail buildings at 1123 Kings Highway, 1103 Kings Highway, and 1101 Kings Highway in Sheepshead Bay, Brooklyn.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,500,000.00

Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00