BLDG Management Refinances Inwood Retail Building With $11.6M Loan From M&T Bank
4951 Broadway New York, NY 10034, USA
$11,631,153
$385/SF
Building Size
30,189 SF
Asset Type
Retail
Closing
Jul 27, 2023
About this deal
AI
A retail building located at 4951 Broadway in Inwood, Manhattan has obtained an $11.6 million refinance loan from M&T Bank. The property, with a building square footage (BSF) of 34,568 and a rentable square footage (SF) of 30,189, is owned by BLDG Management, represented by BLDG Oceanside LLC. The loan was provided by Hunter Noah from M&T Bank.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,631,153
- Property Address: 4951 Broadway, Inwood, Manhattan
- Market: Inwood, Manhattan
- BSF: 34,568
- SF: 30,189
BLDG Management, led by Lloyd Goldman, is the landlord of the retail building at 4951 Broadway. M&T Bank, through their representative Hunter Noah, provided the $11.6 million refinance loan for the property. This loan will allow BLDG Management to strengthen their financial position and invest in the ongoing maintenance and development of the retail building.
On the Map
$11,631,153
$385/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.36%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93