Updated Oct 23, 2025
ERG Commercial Real Estate Secures $8.5 Million Refinance Loan For Industrial Property In Staten Island
501 Industry Road
$8,500,000
$212/SF
Building Size
40,000 SF
Asset Type
Industrial
Closing
Oct 20, 2025
About this deal
AI
A $8.5 million bridge loan was secured by ERG Commercial Real Estate to refinance a fully leased 40,000-square-foot industrial property located at 501 Industry Road in Staten Island. This refinancing transaction features a five-year loan structured with an interest-only first year, which will transition to a traditional amortizing loan contingent upon meeting specific performance benchmarks.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,500,000
- Address: 501 Industry Road
- Market: Staten Island
- Asset Size: 40,000 SF
- Loan Type: Refinance
Ryan Lewis of ERG Commercial Real Estate represents the deal, facilitating the refinancing process with a national institutional bank. The arrangement demonstrates a strategic move to enhance the financial structure of the property while maintaining occupancy and income stability.
On the Map
$8,500,000
$212/SF
Industrial
View full map
Players
Staten Island Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit Ryan Lewis to view all their deals.
Browse Staten Island industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93