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Bluestone Group Secures $8.5M Refinance Loan For Specialty Building In Longwood, Bronx

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FINANCED
$8,500,000

New York

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Special Purpose33,250 SF
Financed 05/31/2023
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FINANCED

Bluestone Group Secures $8.5M Refinance Loan For Specialty Building In Longwood, Bronx

609 Jackson Avenue Bronx, New York 10455, USA

See Similar Deals
Special Purpose33,250 SF
Financed 05/31/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Special Purpose
Price Per Square Foot:$255
Total Square Footage:33,250 SF
Transaction Type:Loan

Bluestone Group has secured an $8.5 million refinancing loan for a specialty building located at 609 Jackson Avenue in Longwood, Bronx. The loan was provided by TriState Capital Bank. The transaction closed on May 31, 2023. The property encompasses 33,250 square feet of built space.

Summary of transaction details:

  • Property Type: Specialty
  • Transaction Amount: $8,500,000
  • Market: Longwood, Bronx
  • Address: 609 Jackson Avenue
  • Lender: TriState Capital Bank - Robert Gambitsky
  • Landlord: Bluestone Group - Elimelech Tabak & Robert Gambitsky

Bluestone Group, represented by Elimelech Tabak and Robert Gambitsky, successfully secured an $8.5 million refinancing loan from TriState Capital Bank for their specialty building located at 609 Jackson Avenue in Longwood, Bronx. The loan transaction closed on May 31, 2023, providing the necessary funding for the property, which spans 33,250 square feet.

Players

Tristate Capital Bank
Tristate Capital Bank
LENDER
BG
Bluestone Group
LANDLORD
BG
Bluestone Group
LANDLORD

Details

FINANCED
IMAGE: Elimelech Tabak DATE: 05/31/2023 ADDRESS: 609 Jackson Avenue MARKET: Longwood, Bronx ASSET TYPE: Specialty ~ SF: 33,250 LENDER: TriState Capital Bank - Robert Gambitsky LANDLORD: Bluestone Group (@TheBluestoneGroup) - Elimelech Tabak & Robert Gambitsky LOAN AMOUNT: $8,500,000 LOAN TYPE: Refinance NOTE: Bluestone Group secured an $8.5 million refinancing loan from TriState Capital Bank for a specialty building located at 609 Jackson Avenue in Longwood, Bronx. The transaction closed on May 31, 2023, and the property encompasses 33,250 square feet of built space.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,500,000.00

Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00