FINANCEDIndustrial
StanCorp Financial Group Funds $3M Refinance For Industrial Property On Long Island
8 Leecon Court
$3,000,000
$67/SF
Building Size
44,690 SF
Asset Type
Industrial
Closing
Feb 21, 2024
AI
An Industrial property spanning 44,690 square feet located at 8 Leecon Court in Long Island was involved in a recent transaction. The property was refinanced for a loan amount of $3,000,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Address: 8 Leecon Court
- Market: Long Island
- Lender: stancorp-71537964-e57b-4b05-af26-2eaf91775e6a-duplicate''>StanCorp Financial Group
- Landlord: John Rosko
- Brokers: Amber Coleman & Lili Grbavac - CBRE
Amber Coleman and Lili Grbavac from CBRE represented the parties involved in the refinancing deal.
Players
Southampton 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