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

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FINANCED
$14,000,000
Asher Urbach
James Murad
Andrew Iadeluca
+ 1

New York

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Industrial178,600 SF
Financed 06/08/2022
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Property Image
FINANCED

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

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

See Similar Deals
Industrial178,600 SF
Financed 06/08/2022
Asher Urbach
James Murad
Andrew Iadeluca
+ 1
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:178,600 SF
Transaction Type:Loan

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
James Murad
62 deals$2.9B volume(646) 290-2012
BROKER
Andrew Iadeluca
Andrew Iadeluca
17 deals$689.1M volume(315) 480-2540
BROKER
Adam Hakim
Ripco
Adam Hakim
60 deals$2.9B volume(646) 290-2011
BROKER
Asher Urbach
Meridian Capital Group
Asher Urbach
4 deals$59.9M volume
BROKER
HC
Harrison Street Real Estate Capital
LANDLORD

Details

FINANCED
IMAGE: Adam Hakim, Andrew Iadeluca, James Murad & Asher Urbach DATE: 06/08/2022 ADDRESS: 71 Clinton Road MARKET: Garden City ASSET TYPE: Industrial ~ SF: 178,600 LANDLORD: Engel Burman BROKERS: Adam Hakim, Andrew Iadeluca (@AndyAtehere), James Murad (@James_Murad) & Asher Urbach - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $14,000,000 LOAN TYPE: Permanent

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,000,000.00

Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00