Deutsche Bank Refinances Retail Property In Brooklyn For $6.05M
2586 Coney Island Avenue, Brooklyn, New York 11230, United States
$6,050,000
$300/SF
Building Size
20,145 SF
Asset Type
Retail
Closing
Jul 10, 2022
About this deal
AI
The property involved in this transaction is a retail asset located at 2586-2608 Coney Island Ave. in Brooklyn. It spans approximately 20,145 square feet and was sold for an undisclosed amount.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Undisclosed
- Address: 2586-2608 Coney Island Ave.
- Market: Brooklyn
- Square Footage: 20,145
The lender in this deal was Deutsche Bank. Brian Anderson of Progress Capital represented the buyer as the broker.
This refinance loan transaction, which took place on July 11, 2022, involved Deutsche Bank as the lender and Brian Anderson of Progress Capital as the broker. The loan amount was $6,050,000.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.62%
Cash-on-Cash
-0.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93