JPMorgan Chase Provides $3.5M Refinance Loan For Retail Property In Bronx

The property involved in this transaction is a retail asset located at 580 E. 138th St. in the Bronx. It spans a total of 10,138 square feet and is owned by S6 Management. The property was recently refinanced through a loan secured from JPMorgan Chase with a loan amount of $3,500,000. The loan carries a fixed interest rate of 4.71% and has a term of 10 years. It is a non-recourse loan, providing additional protection to the borrower.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,500,000
• Address: 580 E. 138th St.
• Market: Bronx
• Square Footage: 10,138

The loan was facilitated by B6 Real Estate Advisors, with Nicole Schmidt and Lynn Marcello representing the landlord, S6 Management. They played a crucial role in negotiating and finalizing the refinancing deal on behalf of the property owner. The involvement of JPMorgan Chase as the lender highlights their confidence in the property's value and potential.