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3632 Broadway

Kenneth Luna Secures $14M Refinance And Purchase Loan For Retail Portfolio In Manhattan And Bronx
FINANCEDRetail

Kenneth Luna Secures $14M Refinance And Purchase Loan For Retail Portfolio In Manhattan And Bronx

3632 Broadway, 3448 Jerome Avenue & 3469 Jerome Avenue

$14,000,000

Building Size

Asset Type

Retail

Closing

Jun 9, 2025

AI

The transaction involves a retail portfolio located at 3632 Broadway, 3448-3464 Jerome Avenue & 3469-3489 Jerome Avenue, situated in the Manhattan and Bronx markets. The loan amount for this refinancing and purchase is $14,000,000, facilitated by J.P. Morgan Chase. The landlord in this deal is Kenneth Luna.

Summary of transaction details:

  • Property Type: Retail Portfolio
  • Transaction Amount: $14,000,000
  • Lender: J.P. Morgan Chase
  • Landlord: Kenneth Luna
  • Broker: Ezra Sutton - Meridian Capital Group
  • Date of Transaction: 6/10/2025

Ezra Sutton represents Kenneth Luna in the transaction and is associated with Meridian Capital Group. For those interested in financing options, contact information for Ezra Sutton is provided: (212) 468-5964 and [email protected].

Players

Ezra Sutton

Meridian Capital Group

Broker

$570.5M

vol

28 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
J.P. Morgan Chase
J.P. Morgan ChaseLender

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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93