Equitas Capital Group Secures $2.43M Acquisition Loan For Retail Property In Brooklyn

The property involved in this transaction is a retail asset located at 1378-1374 Coney Island Ave in Brooklyn. It has a total square footage of 6,000. The transaction was an acquisition, and the loan amount for this deal was $2,430,000. The loan terms include a fixed interest rate of 4.75%, a loan-to-value (LTV) ratio of 90%, a term of 10 years, and an amortization period of 25 years. The prepayment terms consist of a 3-year step down structure, with decreasing prepayment penalties of 3%, 2%, and 1%.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $2,430,000
• Address: 1378-1374 Coney Island Ave., Brooklyn
• Market: Brooklyn
• Asset Type: Retail
• Square Footage: 6,000 SF

The brokers involved in this transaction were Alex Leykind, Michael Fey, and Sam Davidov from Equitas Capital Group. Equitas Capital Group specializes in finding customized solutions for commercial real estate financing needs. They take a relationship-driven approach, investing time and resources in understanding the individual needs and challenges of their clients. For more information on how Equitas Capital Group can assist with financing commercial properties, you can contact them at 646-637-7510 or [email protected].

In addition to Equitas Capital Group, Sam Davidov with Green River Capital Corp., specializing in residential real estate financing, can help with financing residential properties. You can reach Sam Davidov at 718-200-0006 to learn more.