Equitas Capital Group Brokers Secure $5.15M Bridge Loan For Retail Property On Flatbush Ave., Brooklyn
FINANCED
$5,150,000
New York
See Similar DealsRetail5,995 SF
Financed 03/31/2022
FINANCED
Equitas Capital Group Brokers Secure $5.15M Bridge Loan For Retail Property On Flatbush Ave., Brooklyn
250 Flatbush Avenue
See Similar DealsRetail5,995 SF
Financed 03/31/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$859
Total Square Footage:5,995 SF
Transaction Type:Loan
250 Flatbush Ave, a retail property located in Brooklyn, was recently involved in a closed transaction. The property spans an area of 5,995 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $5,150,000
- Date: 03/31/2022
- Market: Brooklyn
The deal was facilitated by Alex Leykind and Michael Tsyngauz from Equitas Capital Group, who represented the parties involved in the transaction.
Regarding the loan associated with this transaction, it was a bridge loan. The loan amounted to $5,150,000 and had a term of one year. The closing period for the loan was two weeks, with a prepayment requirement of four months. There was no interest reserve specified in the terms of the loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,150,000.00
Monthly NOI$34,333.33
Monthly Debt Service$32,551.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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