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500 West Main Street

City National Bank Provides $14.5M Refinance Loan To The STRO Companies For Industrial Asset In Wyckoff
FINANCEDIndustrial

City National Bank Provides $14.5M Refinance Loan To The STRO Companies For Industrial Asset In Wyckoff

500 West Main Street

$14,500,000

$126/SF

Building Size

115,084 SF

Asset Type

Industrial

Closing

Apr 29, 2025

AI

The property asset involved in the transaction is an industrial space located at 500 West Main Street in Wyckoff. The total square footage of the asset is 115,084, and it is financed through a refinance loan amounting to $14,500,000. The lending institution for this transaction is City National Bank.

Summary of transation details:

The deal involves significant individuals such as Albert Fitch and Steven Millstein representing The STRO Companies as landlords. The landlord's representation for this transaction is handled by brokers Michael Klein, Max Custer, and Christian Badalamenti from JLL, highlighting the collaborative efforts in securing the refinancing for this industrial property.

Players

Michael Klein

JLL

Broker

$2.6B

vol

77 deals

Broker
City National Bank
City National BankLender
The Stro Companies
The Stro CompaniesLandlord

Wyckoff Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93