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
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