facebook

traded

+ Submit
Home

/

Deals

/

New York

/

All

/

Loan

/

620 Richmond Terrace, State...

JLL Brokers Secure $33.2M Acquisition Loan For Staten Island Self-Storage Facility
FINANCED

JLL Brokers Secure $33.2M Acquisition Loan For Staten Island Self-Storage Facility

620 Richmond Terrace, Staten Island, New York 10301, United States

$33,200,000

$224/SF

Building Size

148,000 SF

Asset Type

Closing

May 26, 2022

AI

A special purpose/self-storage facility located at 620 Richmond Terrace in Staten Island has been involved in a recent closed transaction. The property spans approximately 148,000 square feet and is situated in the Staten Island market. The transaction involved an acquisition loan provided by SoundPoint Capital in the amount of $33,200,000.

Summary of transaction details:

  • Property Type: Special Purpose/Self-Storage Facility
  • Transaction Amount: $33,200,000
  • Address: 620 Richmond Terrace
  • Market: Staten Island
  • Loan Type: Acquisition
  • Lender: SoundPoint Capital
  • Landlord: Storage Post Self Storage - Bruce Roch & Dylan Delaune
  • Brokers: Steven Klein, Robert Tonnessen, Jackie Ferrer & Ricky Song - JLL

The loan for this transaction was facilitated by SoundPoint Capital, while the property is owned by Storage Post Self Storage, represented by Bruce Roch and Dylan Delaune. The brokers involved in the deal were Steven Klein, Robert Tonnessen, Jackie Ferrer, and Ricky Song from JLL.

Players

Robert Tonnessen

JLL

Broker

$2.5B

vol

24 deals

Broker
Sound Point Capital Management
Sound Point Capital ManagementLender

Dylan Delaune

Storage Post Self Storage

Landlord

$108.2M

vol

3 deals

Landlord

New York CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.48%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93