Updated Oct 28, 2024
Signature Bank Provides $55M Refinance Loan For Industrial Properties In Fordham Manor
2371 Exterior StThe Bronx, NY 10468, USA
$55,000,000
$5,450/SF
Building Size
10,090 SF
Asset Type
Industrial
Closing
Aug 7, 2022
About this deal
AI
Located in the Fordham Manor neighborhood, the industrial property at 2371 Exterior Street, 2401 Exterior Street, and 2391 Exterior Street has recently undergone a significant loan transaction. The property spans approximately 10,090 square feet, making it a spacious and versatile asset for its occupants.
Summary of Transaction Details
- Property Type: Industrial
- Loan Amount: $55,000,000
- Loan Type: Refinance
- Market: Fordham Manor
The loan was provided by Signature Bank, with Kenneth A. Stagnari representing the bank in the transaction. The borrower's representative and landlord for the property is Gary Segal from Dynamic Star.
This loan transaction, valued at $55,000,000, showcases the confidence and trust Signature Bank has in the property's potential. By obtaining this refinancing, the property's stakeholders aim to optimize its financial structure while continuing to capitalize on its strategic location in Fordham Manor.
Players
Bronx 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93