LMF Commercial Refinances Mixed-Use Property In Carroll Gardens, Brooklyn For $3.5M
561 Clinton Street
$3,500,000
$3,333/SF
Building Size
1,050 SF
Asset Type
Retail
Closing
Aug 23, 2022
About this deal
AI
Located at 561 Clinton St. in Carroll Gardens, Brooklyn, this mixed-use property spans 4,650 square feet. The transaction took place on 08/23/2022.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,500,000
- Market: Carroll Gardens, Brooklyn
- Lender: LMF Commercial (A Lennar Co.)
- Lender's Representative: Nihad Choudhury
- Landlord: Conway Capital
- Landlord's Representative: Abe Cohen
- Broker: Robert Tobias
- Broker's Agency: RJT Capital Partners
- Loan Type: Refinance
- Loan Terms: CMBS, 10-year fixed, full term IO
Nihad Choudhury, representing LMF Commercial (A Lennar Co.), provided the loan amount of $3,500,000 for the refinance transaction. The landlord, Conway Capital, was represented by Abe Cohen. Robert Tobias, from RJT Capital Partners, served as the broker in this deal.
On the Map
$3,500,000
$3,333/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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93