Nationwide Life Insurance Refinances Village Greens Shopping Center In Staten Island For $22M
230-262 Arden Avenue
$22,000,000
$290/SF
Building Size
75,697 SF
Asset Type
Retail
Closing
Apr 18, 2023
AI
Nationwide Life Insurance Company has provided a $22 million refinancing for Village Greens Shopping Center in Staten Island, New York. The retail property, located at 230-262 Arden Avenue, spans across 75,697 square feet. It is situated in the Arden Heights neighborhood and is home to Key Food Supermarket, CVS Pharmacy, and JP Morgan Chase Bank.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: $22,000,000
- Address: 230-262 Arden Avenue, Staten Island
- Market: Staten Island
- Asset Type: Retail
- Square Footage: 75,697
The refinancing deal was facilitated by Robert Delitsky and Dylan Hamer of Northmarq’s New York debt/equity office. They acted as the brokers representing the buyer in this transaction. According to Delitsky and Hamer, Nationwide Life Insurance Company showed "strong interest" in providing the refinancing for the Village Greens Shopping Center.
Players
Oshkosh 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93