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Signature Bank Provides $55M Refinance Loan For Industrial Properties In Fordham Manor

Property Image
FINANCED
$55,000,000

New York

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Industrial10,090 SF
Financed 08/08/2022
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Property Image
FINANCED

Signature Bank Provides $55M Refinance Loan For Industrial Properties In Fordham Manor

2371 Exterior StThe Bronx, NY 10468, USA

See Similar Deals
Industrial10,090 SF
Financed 08/08/2022
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$5,450
Total Square Footage:10,090 SF
Transaction Type:Loan

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

Signature Bank
Signature Bank
LENDER
Gary Segal
Gary Segal
5 deals$192.2M volume
LANDLORD

Details

FINANCED
IMAGE: Gary Segal DATE: 08/08/2022 ADDRESS: 2371 Exterior Street, 2401 Exterior Street & 2391 Exterior Street MARKET: Fordham Manor ASSET TYPE: Industrial ~ SF: 10,090 LENDER: Signature Bank - Kenneth A. Stagnari LANDLORD: Dynamic Star - Gary Segal LOAN AMOUNT: $55,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$55,000,000.00

Monthly NOI$366,666.67
Monthly Debt Service$347,637.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00