Signature Bank Refinances Retail Property At 3780 Broadway In New York For $8M
3780 Broadway
$8,000,000
$148/SF
Building Size
53,750 SF
Asset Type
Retail
Closing
May 10, 2022
About this deal
AI
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.
On the Map
$8,000,000
$148/SF
Retail
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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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93