Meridian Capital Group Arranges $5 Million Refinance Loan For Development Site In East Fishkill
218 Lime Kiln Road
$5,000,000
$27/SF
Building Size
183,388 SF
Asset Type
Development Site
Closing
May 14, 2025
AI
The asset involved in this transaction is a development site located at 218 Lime Kiln Road, East Fishkill, NY. The total square footage of the site is 183,388. The loan amount for this property is $5,000,000, which is classified as a refinance type loan.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,000,000
- Address: 218 Lime Kiln Road
- Market: East Fishkill
- Asset Size: 183,388 SF
- Lender: Customers Bank
- Loan Type: Refinance
- Brokers: Chaim Tessler & Chesky Klein - Meridian Capital Group
Chaim Tessler and Chesky Klein from Meridian Capital Group played key roles in arranging the financing for this complex land deal. The loan secured carries an interest rate of SOFR + 3.75% for an 18-month term. Meridian Capital Group's expertise lies in navigating challenging transactions and structuring creative financing solutions for their clients.
Players
Hopewell Junction Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93