Metropolitan Commercial Bank Provides $17.5M Loan For Retail Property At 2250 Broadway
FINANCED
$17,500,000
New York
See Similar DealsRetail34,302 SF
Financed 09/30/2022
FINANCED
Metropolitan Commercial Bank Provides $17.5M Loan For Retail Property At 2250 Broadway
2250 Broadway
See Similar DealsRetail34,302 SF
Financed 09/30/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$510
Total Square Footage:34,302 SF
Transaction Type:Loan
The retail property located at 2250 Broadway in New York has been involved in a recent closed transaction. The property spans a total area of 34,302 square feet. The deal involved the landlord, Premier Equities & Angelo Gordon, and the lender, Metropolitan Commercial Bank.
Summary of transaction details
- Property Type: Retail
- Market: New York
- Address: 2250 Broadway
The acquisition of the property was financed through a loan provided by Metropolitan Commercial Bank. The loan amount was $17,500,000. It was a five-year fixed-rate loan with a term that included two years of interest-only payments. The brokers involved in the deal were Cary Pollack and Judah Neuman from Meridian Capital Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,500,000.00
Monthly NOI$116,666.67
Monthly Debt Service$110,611.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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