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Warren Krupp Of American Bancshares Refinances Industrial Property On Long Island For $5.5M

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FINANCED
$5,500,000

New York

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Industrial60,000 SF
Financed 02/28/2024
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FINANCED

Warren Krupp Of American Bancshares Refinances Industrial Property On Long Island For $5.5M

Industrial60,000 SF
Financed 02/28/2024
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Summary

Asset Type:Industrial
Price Per Square Foot:$91
Total Square Footage:60,000 SF
Transaction Type:Loan

The industrial property located at 301 Locust Avenue in Long Island, NY, spans 60,000 square feet. The property was refinanced for $5,500,000 with Eric Kraftsow from Kraftsow Family Investments providing the loan. The landlord of the property is James Turco of Modern Italian Bakery. The broker involved in this transaction was Warren Krupp from American Bancshares Mortgage.

Summary of transaction details:

Noteworthy individuals in this deal include Eric Kraftsow, who represented Kraftsow Family Investments as the lender, and James Turco, the landlord of Modern Italian Bakery. Additionally, Warren Krupp, from American Bancshares Mortgage, played a pivotal role as the broker in this refinancing transaction.

Players

Warren Krupp
3 deals$11.7M volume
BROKER

LENDER

Details

FINANCED
IMAGE: Warren Krupp DATE: 02/28/2024 ADDRESS: 301 Locust Avenue MARKET: Long Island, NY ASSET TYPE: Industrial ~ SF: 60,000 LENDER: Eric Kraftsow - Kraftsow Family Investments LANDLORD: James Turco - Modern Italian Bakery BROKER: Warren Krupp (@Wrk001) - American Bancshares Mortgage (@MyABSM) LOAN AMOUNT: $5,500,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,500,000.00

Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00