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71 Clinton Road, Garden Cit...

Engel Burman Secures $14M Permanent Loan For Industrial Property In Garden City
FINANCEDIndustrial

Engel Burman Secures $14M Permanent Loan For Industrial Property In Garden City

71 Clinton Road, Garden City, New York 11530, United States

$14,000,000

$78/SF

Building Size

178,600 SF

Asset Type

Industrial

Closing

Jun 7, 2022

AI

Adam Hakim, Andrew Iadeluca, James Murad, and Asher Urbach of Meridian Capital Group have secured a $14,000,000 permanent loan for an industrial property located at 71 Clinton Road in Garden City. The property spans 178,600 square feet and is owned by Engel Burman.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $14,000,000
  • Address: 71 Clinton Road
  • Market: Garden City
  • Brokers: Adam Hakim, Andrew Iadeluca, James Murad, and Asher Urbach - Meridian Capital Group

This loan transaction was facilitated by Adam Hakim, Andrew Iadeluca, James Murad, and Asher Urbach of Meridian Capital Group. They successfully secured a permanent loan of $14,000,000 for Engel Burman's industrial property located at 71 Clinton Road in Garden City, spanning 178,600 square feet.

Players

James Murad

Ripco

Broker

$3B

vol

64 deals

Broker
HC
Harrison Street Real Estate CapitalLandlord

Garden City Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93