Updated Oct 28, 2024
Paramount Realty Secures $15.5M Acquisition Loan For Avon Retail Property With Lender Flushing Bank
315 West Main Street, Avon, Connecticut 06001, United States
$15,500,000
$134/SF
Building Size
115,258 SF
Asset Type
Retail
Closing
Apr 6, 2022
About this deal
AI
A retail property located at 315 West Main Street in Avon, Connecticut has been involved in a recent transaction. The property spans 115,258 square feet and is part of the local market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,500,000
- Loan Type: Acquisition
- Loan Terms: 70% LTV, 7 year term, 30 year amortization, 3.70% Non recourse
- Lender: Flushing Bank
- Landlord: Paramount Realty
- Broker: Morris Dweck - KSR Capital
Morris Dweck from KSR Capital represents the buyer/seller/landlord/tenant in this transaction. As part of the capital markets division at KSR Capital, Dweck has been retained to lead the financing opportunities within the company. For any inquiries regarding financing opportunities, please contact Morris Dweck at [email protected].
Players
Avon Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93