Dime Community Bank Provides $4.25M Refinance Loan For Industrial Property At 30-60 Skyline Drive, Long Island
FINANCED
$4,250,000
New York
See Similar DealsIndustrial40,000 SF
Financed 09/27/2021
FINANCED
Dime Community Bank Provides $4.25M Refinance Loan For Industrial Property At 30-60 Skyline Drive, Long Island
30-60 Skyline Drive, Plainview, NY, USA
See Similar DealsIndustrial40,000 SF
Financed 09/27/2021
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$106
Total Square Footage:40,000 SF
Transaction Type:Loan
A loan transaction has taken place for an industrial property located at 30-60 Skyline Drive in Long Island. The property spans approximately 40,000 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,250,000
- Address: 30-60 Skyline Drive
- Market: Long Island
- Image: Michael Volpe
- Date: 09/27/2021
The landlord in this transaction is Jin Bing Wang, while the lender is Dime Community Bank. The loan, which amounts to $4,250,000, serves as a refinancing solution. The terms of the loan include a duration of 5 years, an interest rate of 3.5%, and a 25-year amortization schedule.
The broker involved in this deal is Michael Volpe from the Highcap Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,250,000.00
Monthly NOI$28,333.33
Monthly Debt Service$26,862.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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