Updated May 12, 2025
ConnectOne Bank Provides $1.6M Acquisition Loan For Industrial Property In Oakland Park
4050 Northeast 5th Avenue
$1,597,500
$112/SF
Building Size
14,183 SF
Asset Type
Industrial
Closing
Jul 6, 2022
About this deal
AI
The transaction involved an industrial property comprising 14,183 square feet located at 4050 NE 5th Ave & 548 NE 42nd St in the Oakland Park market. The acquisition loan amount secured for this property was $1,597,500.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,597,500
- Lender: ConnectOne Bank
- Broker: Alec Feintuch - Leviathan Capital
- Loan Type: Acquisition
Alec Feintuch represented the broker in this transaction, facilitating the acquisition of the property through the loan arrangement with ConnectOne Bank.
On the Map
$1,597,500
$112/SF
Industrial
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Players
Oakland Park Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.93%
Cash-on-Cash
-2.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93