Island Federal Credit Union Provides A $7M Acquisition Loan For Retail Property In Bushwick | 1291 Broadway | Island Federal Credit Union | Nicole Schmidt, Lynn Marcello, DJ Johnston | Retail | Loan

Summary

Loan

NEW YORK

Retail

16,084 sqft

Located at 1291 Broadway in Bushwick, this retail property spans 16,084 square feet. The property was recently involved in a closed transaction for acquisition.

Summary of Transaction Details

Property Type: Retail
Transaction Amount: $7,000,000
Address: 1291 Broadway
Market: Bushwick
Lender: Island Federal Credit Union
Landlord: Bryan Murphy
Mortgage Brokers: Lynn Marcello & Nicole Schmidt - B6 Real Estate Advisors
Seller's Representative: DJ Johnston - B6 Real Estate Advisors
Loan Type: Acquisition
Loan Terms: 78% LTV, 4.25%, 7 Year Term, No Pre-Payment Penalty

The loan for the acquisition of this retail property was facilitated by B6 Real Estate Advisors, with Lynn Marcello and Nicole Schmidt acting as mortgage brokers. DJ Johnston, also from B6 Real Estate Advisors, represented the seller in the transaction.

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Players

All
6

Agents
3
Agencies
2
Lenders
1

Executive Vice President

$398.4M Sold

Details

Deal Summary

FINANCED

IMAGE: DJ Johnston, Nicole Schmidt & Lynn Marcello DATE: 09/13/2022 ADDRESS: 1291 Broadway MARKET: Bushwick ASSET TYPE: Retail ~ SF: 16,084 LENDER: Island Federal Credit Union (@IslandFederal) LANDLORD: Bryan Murphy MORTGAGE BROKERS: Lynn Marcello (@Lynnnstagram__) & Nicole Schmidt (@Nicole_MSchmidt) - B6 Real Estate Advisors SELLER'S REP: DJ Johnston (@B6RealEstate_JohnstonTeam) - B6 Real Estate Advisors (@B6RealEstate) LOAN AMOUNT: $7,000,000 LOAN TYPE: Acquisition LOAN TERMS: 78% LTV, 4.25%, 7 Year Term, No Pre-Payment Penalty

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Address1291 Broadway

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