Bluestone Group Secures $8.5M Refinance Loan For Specialty Building In Longwood, Bronx
609 Jackson Avenue Bronx, New York 10455, USA
$8,500,000
$255/SF
Building Size
33,250 SF
Asset Type
Special Purpose
Closing
May 31, 2023
AI
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.
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New York Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93