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BLDG Management Refinances Inwood Retail Building With $11.6M Loan From M&T Bank

Property Image
FINANCED
$11,631,153

New York

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Retail30,189 SF
Financed 07/27/2023
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Property Image
FINANCED

BLDG Management Refinances Inwood Retail Building With $11.6M Loan From M&T Bank

4951 Broadway New York, NY 10034, USA

See Similar Deals
Retail30,189 SF
Financed 07/27/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$385
Total Square Footage:30,189 SF
Transaction Type:Loan

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.

Players

M&T Bank
M&T Bank
LENDER
Lloyd Goldman
Lloyd Goldman
13 deals$675.9M volume
LANDLORD

Details

FINANCED
IMAGE: Lloyd Goldman DATE: 07/27/2023 ADDRESS: 4951 Broadway MARKET: Inwood, Manhattan ASSET TYPE: Retail ~ BSF: 34,568 ~ SF: 30,189 LENDER: M&T Bank - Hunter Noah LANDLORD: BLDG Management - Lloyd Goldman LOAN AMOUNT: $11,631,153 LOAN TYPE: Refinance NOTE: BLDG Management, represented by BLDG Oceanside LLC, obtained an $11.6 million refinance loan from M&T Bank for a retail building located at 4951 Broadway in Inwood, Manhattan. &TBank

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,631,153.00

Monthly NOI$77,541.02
Monthly Debt Service$73,516.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00