Sheridan Capital Provides $4.7M Bridge Loan For 153 Berry Street, Williamsburg Retail
FINANCED
$4,700,000
New York
See Similar DealsRetail
Financed 06/10/2024
FINANCED
Sheridan Capital Provides $4.7M Bridge Loan For 153 Berry Street, Williamsburg Retail
153 Berry Street
See Similar DealsRetail
Financed 06/10/2024
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The property at 153 Berry Street in Williamsburg, Brooklyn, was involved in a recent transaction. The asset, a retail space, secured a bridge loan amounting to $4,700,000 from Sheridan Capital. Avi Eyal from FM Capital represented the deal as the broker.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,700,000
- Address: 153 Berry Street
- Market: Williamsburg, Brooklyn
- Lender: Sheridan Capital
- Broker: Avi Eyal - FM Capital
Avi Eyal played a key role in securing the bridge loan for the retail space at 153 Berry Street. The involvement of Sheridan Capital in providing the financial assistance highlights the significance of the deal in the Williamsburg market. This transaction signifies a strategic move benefiting both the borrower and the lender.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,700,000.00
Monthly NOI$31,333.33
Monthly Debt Service$29,707.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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