Saad Family Secures $2.45M Loan For Bronx Retail Property With Flushing Bank As Lender
FINANCED
$2,450,000
New York
See Similar DealsRetail
Financed 12/05/2018
FINANCED
Saad Family Secures $2.45M Loan For Bronx Retail Property With Flushing Bank As Lender
4009 White Plains Road, Bronx, NY, USA
See Similar DealsRetail
Financed 12/05/2018
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The property involved in this transaction is a retail asset located at 4009-4019 White Plains and 772 East Tremont Ave in Bronx. The loan amount for this transaction was $2,450,000. The landlord/borrower is the Saad Family and the lender is Flushing Bank. The transaction was facilitated by broker Michael Chelala.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,450,000
- Address: 4009-4019 White Plains and 772 East Tremont Ave, Bronx
- Market: Bronx
- Lender: Flushing Bank
- Broker: Michael Chelala
The Saad Family, as the landlord/borrower, secured a loan of $2,450,000 from Flushing Bank to support the retail property transaction. The loan was facilitated with the assistance of broker Michael Chelala.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,450,000.00
Monthly NOI$16,333.33
Monthly Debt Service$15,485.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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