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$13.5M Loan Secured By Flushing Bank For Industrial Property In Hicksville, Long Island

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FINANCED
$13,500,000

Connecticut

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Industrial122,644 SF
Financed 02/28/2020
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FINANCED

$13.5M Loan Secured By Flushing Bank For Industrial Property In Hicksville, Long Island

108 New South Rd #122, Hicksville, Ny 11801, Usa

See Similar Deals
Industrial122,644 SF
Financed 02/28/2020
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Summary

CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$110
Total Square Footage:122,644 SF
Transaction Type:Loan

An industrial property located at 108-122 New South Road in Hicksville, Long Island has recently been involved in a closed transaction. The property, spanning a total of 122,644 square feet, has been acquired by an undisclosed buyer. The transaction was facilitated by brokers Cory Horowitz and Jeffrey Horowitz. Flushing Bank provided a loan amount of $13,500,000 for this deal, while the landlord of the property is 108-122 New South Road Realty Corp., represented by Gary Calmenson.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $13,500,000
  • Square Footage: 122,644
  • Address: 108-122 New South Road, Hicksville, Long Island
  • Market: Hicksville, Long Island
  • Lender: Flushing Bank
  • Landlord: 108-122 New South Road Realty Corp. – Gary Calmenson
  • Brokers: Cory Horowitz, Jeffrey Horowitz

This transaction highlights the active involvement of brokers Cory Horowitz and Jeffrey Horowitz, who played a crucial role in facilitating the deal between the undisclosed buyer and the landlord, 108-122 New South Road Realty Corp., represented by Gary Calmenson. The loan amount of $13,500,000 provided by Flushing Bank further catalyzed the acquisition of this industrial property, which spans a total area of 122,644 square feet.

Players

3 deals$38M volume
BROKER

Cory Horowitz
2 deals$34M volume
BROKER

Flushing Bank
LENDER

Details

FINANCED
IMAGE: Cory Horowitz, Jeffrey Horowitz DATE: 02/28/2020 ADDRESS: 108-122 New South Road MARKET: Hicksville, Long Island ASSET TYPE: Industrial LENDER: Flushing Bank LANDLORD: 108-122 New South Road Realty Corp. – Gary Calmenson BROKERS: Cory Horowitz, Jeffrey Horowitz LOAN AMOUNT: $13,500,000 SF: 122,644

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,500,000.00

Monthly NOI$90,000.00
Monthly Debt Service$85,329.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00