Daily limit: 0/10
ERG Commercial Real Estate Furnishes $7.5M Bridge Loan For Purchase Of Industrial Site In Staten Island
FINANCED
$7,500,000
New York
See Similar DealsIndustrial40,000 SF
Financed 01/08/2024
FINANCED
ERG Commercial Real Estate Furnishes $7.5M Bridge Loan For Purchase Of Industrial Site In Staten Island
501 Industry Road
See Similar DealsIndustrial40,000 SF
Financed 01/08/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$187
Total Square Footage:40,000 SF
Transaction Type:Loan
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions