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Benjamin Landa And Leopold Friedman Secure $59.6 Million Refinance Loan For Kingsbridge Heights Property
FINANCED
$59,600,000
New York
See Similar DealsSpecial Purpose
Financed 06/28/2024
FINANCED
Benjamin Landa And Leopold Friedman Secure $59.6 Million Refinance Loan For Kingsbridge Heights Property
3400 Cannon Place
See Similar DealsSpecial Purpose
Financed 06/28/2024
Summary
NEW YORK
Asset Type:Special Purpose
Transaction Type:Loan
The asset involved in this transaction is a special purpose building located at 3400 Cannon Place in Kingsbridge Heights, Bronx. The refinancing loan amounted to $59,600,000, which was secured for this specialty property.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $59,600,000
- Address: 3400 Cannon Place
- Market: Kingsbridge Heights, Bronx
- Lender: Brett Bandazian & Ross Dahmen - Metropolitan Commercial Bank
- Landlord: Benjamin Landa & Leopold Friedman
- Loan Type: Refinance
Benjamin Landa and Leopold Friedman were represented in this transaction by 3400 Cannon Place LLC. Their engagement with Metropolitan Commercial Bank for the refinancing highlights the operational decisions made regarding the specialty building.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$59,600,000.00
Monthly NOI$397,333.33
Monthly Debt Service$376,712.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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