Signature Bank Refinances Retail Property At 3780 Broadway In New York For $8M
FINANCED
$8,000,000
New York
See Similar DealsRetail53,750 SF
Financed 05/10/2022
FINANCED
Signature Bank Refinances Retail Property At 3780 Broadway In New York For $8M
3780 Broadway
See Similar DealsRetail53,750 SF
Financed 05/10/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$148
Total Square Footage:53,750 SF
Transaction Type:Loan
Located at 3780 Broadway in New York, this retail property spans a total area of 53,750 square feet. The property, owned by Jem Realty Management - Alan J. Jemal, recently underwent a refinancing transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $8,000,000
- Market: New York
- Lender: Signature Bank
- Landlord: Jem Realty Management - Alan J. Jemal
- Brokers: Carol Shelby & Eric Schleif - Meridian Capital Group
The loan, provided by Signature Bank, was used to refinance the property. Represented by Carol Shelby and Eric Schleif from Meridian Capital Group, the transaction closed on May 10, 2022.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,000,000.00
Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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