Updated Jan 21, 2026
Cory Halpert Of Edge Realty Advisors Represents Landlord In $10M Refinance Loan In Bronx
2403 Third Avenue
$10,000,000
$257/SF
Building Size
38,850 SF
Asset Type
Industrial
Closing
Jan 6, 2026
About this deal
AI
The property asset involved is an industrial type located at 2403 Third Avenue in the Bronx, covering a total square footage of 38,850. The loan transaction executed was for a refinance amount of $10,000,000 with loan terms lasting 5 years.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: 5 Years
- Lender: Spring Bank
- Landlord's Representative: Cory Halpert - Edge Realty Advisors
This transaction highlights the roles of the key individuals involved, particularly the landlord's representative, Cory Halpert, who is associated with Edge Realty Advisors. The lender facilitating the loan is Spring Bank, indicating the financial backing that supports this property asset transaction.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93