Updated Dec 4, 2024
ERG Commercial Real Estate Furnishes $7.5M Bridge Loan For Purchase Of Industrial Site In Staten Island
501 Industry Road
$7,500,000
$187/SF
Building Size
40,000 SF
Asset Type
Industrial
Closing
Jan 8, 2024
About this deal
AI
A vacant nine-acre industrial site located at 501 Industry Road in Staten Island has been purchased with the help of a bridge loan. The property, spanning 40,000 square feet, is situated in the Staten Island market. The loan amount provided by Ryan Lewis & Matthew Murphy of ERG Commercial Real Estate totals $7,500,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,500,000
- Square Footage: 40,000
- Acres: 9
- Address: 501 Industry Road
- Market: Staten Island
ERG Commercial Real Estate, represented by Ryan Lewis & Matthew Murphy, facilitated the $7.5 million bridge loan to support the acquisition of the vacant industrial site. No further details have been provided regarding the transaction.
On the Map
$7,500,000
$187/SF
Industrial
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Players
Staten Island 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
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93