Updated Oct 28, 2024
Flushing Bank Provides $14.85M Refinance Loan For Note In New Britain, CT
60 East Main Street, New Britain, Connecticut 06051, United States
$14,850,000
$93/SF
Building Size
158,506 SF
Asset Type
Retail
Closing
May 8, 2022
About this deal
AI
The property in question is a Note in New Britain, CT, with a square footage of 158,506. Located at 60 E. Main Street, the asset is associated with a closed transaction.
Summary of transaction details:
- Property Type: Note
- Market: New Britain, CT
- Address: 60 E. Main Street
- Asset Type: Note
- Square Footage: 158,506
Paramount Realty served as the landlord in this transaction. Flushing Bank acted as the lender, providing a non-recourse refinance loan in the amount of $14,850,000. The loan terms included a 3.70% interest rate, a 7-year term, and a 30-year amortization period. Morris Dweck, from KSR Capital, represented all parties involved as the broker.
If you have any inquiries regarding loans, please contact Morris Dweck at [email protected].
Players
New Britain 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
1.07%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93