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Island Federal Credit Union Provides A $7M Acquisition Loan For Retail Property In Bushwick

Property Image
FINANCED
$7,000,000
Nicole Schmidt
Lynn Marcello
DJ Johnston

New York

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Retail16,084 SF
Financed 09/13/2022
the dealplayerscompscontact
Property Image
FINANCED

Island Federal Credit Union Provides A $7M Acquisition Loan For Retail Property In Bushwick

1291 Broadway, Brooklyn, New York 11221, United States

See Similar Deals
Retail16,084 SF
Financed 09/13/2022
Nicole Schmidt
Lynn Marcello
DJ Johnston
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$435
Total Square Footage:16,084 SF
Transaction Type:Loan

Located at 1291 Broadway in Bushwick, this retail property spans 16,084 square feet. The property was recently involved in a closed transaction for acquisition.

Summary of Transaction Details

The loan for the acquisition of this retail property was facilitated by B6 Real Estate Advisors, with Lynn Marcello and Nicole Schmidt acting as mortgage brokers. DJ Johnston, also from B6 Real Estate Advisors, represented the seller in the transaction.

Players

DJ Johnston
Matthews
DJ Johnston
102 deals$493.3M volume(914) 584-7422
BROKER
Nicole Schmidt
B6 Real Estate Advisors
Nicole Schmidt
5 deals$45.3M volume
BROKER
Lynn Marcello
B6 Real Estate Advisors
Lynn Marcello
5 deals$45.3M volume
BROKER
Island Federal Credit Union
Island Federal Credit Union
LENDER

Details

FINANCED
IMAGE: DJ Johnston, Nicole Schmidt & Lynn Marcello DATE: 09/13/2022 ADDRESS: 1291 Broadway MARKET: Bushwick ASSET TYPE: Retail ~ SF: 16,084 LENDER: Island Federal Credit Union (@IslandFederal) LANDLORD: Bryan Murphy MORTGAGE BROKERS: Lynn Marcello (@Lynnnstagram__) & Nicole Schmidt (@Nicole_MSchmidt) - B6 Real Estate Advisors SELLER'S REP: DJ Johnston (@B6RealEstate_JohnstonTeam) - B6 Real Estate Advisors (@B6RealEstate) LOAN AMOUNT: $7,000,000 LOAN TYPE: Acquisition LOAN TERMS: 78% LTV, 4.25%, 7 Year Term, No Pre-Payment Penalty

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00