Updated Feb 16, 2024
Valley National Bank Provides $3M Loan For Office/Industrial Property In Staten Island
600 Gulf Avenue, Staten Island, NY 10314
$3,000,000
$184/SF
Building Size
16,286 SF
Asset Type
Industrial
Closing
Jul 26, 2020
About this deal
AI
Valley National Bank has provided a loan of $3,000,000 for the property located at 600 Gulf Avenue in Staten Island. The property is an office/industrial asset in the market. The loan transaction took place on July 26, 2021.
Summary of transaction details
- Property Type: Office/Industrial
- Transaction Amount: $3,000,000
- Address: 600 Gulf Avenue
- Market: Staten Island
The landlord of the property is Ram Cherukuri. Brian Anderson and Eddie Miro from Progress Capital represented the borrower in the deal.
The industrial loan at 600 Gulf Avenue, Staten Island, NY 10314 in New York, New York financed for $3M in 2020. The building is 16,286 square feet, implying about 184 per square foot on the published price. Brian Anderson, Eddie Miro, Progress Capital appear on the loan alongside Progress Capital. This page is the New York, New York file for the 600 Gulf Avenue, Staten Island, NY 10314 industrial financed: pricing, party profiles, and other closed industrial comps from the same New York sit in the Market section below. Filter that New York industrial set by closing date to see what else financed near 600 Gulf Avenue, Staten Island, NY 10314 around 2020. Published consideration for 600 Gulf Avenue, Staten Island, NY 10314 is $3M, dated 2020. Cite this Valley National Bank Provides $3M Loan For Office/Industrial Property In Staten Island loan when underwriting similar industrial product around New York, New York.
Players
New York 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93