Dennis Mihalatos Of LoanFunders.com LLC Arranges $6.5M Bridge Loan For Astoria Retail Property
676 Sixth Avenue & 35 52 Steinway Street
$6,500,000
$1,413/SF
Building Size
4,600 SF
Asset Type
Retail
Closing
Aug 21, 2025
About this deal
AI
The transaction involved a retail asset located at 676 Sixth Avenue & 35-52 Steinway Street, in the Astoria market, with a total square footage of 4,600. The loan amount secured by this property was $6,500,000, and it was a refinance loan type.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000
- Address: 676 Sixth Avenue & 35-52 Steinway Street
- Market: Astoria
- Asset Size: 4,600 SF
- Loan Type: Refinance
- Landlord's Representative: Dennis Mihalatos - LoanFunders.com LLC
LoanFunders.com LLC, under the leadership of Dennis Mihalatos, facilitated the $6,500,000 bridge loan, which was secured by two NYC properties. This transaction involved addressing a complex, long-standing legal issue associated with the sponsor’s investment and aimed to restructure and stabilize the sponsor’s portfolio while refinancing existing first mortgage liens.
On the Map
$6,500,000
$1,413/SF
Retail
View full map
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Visit Dennis Mihalatos to view all their deals.
Browse New York retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93