Dime Community Bank Provides $4M Acquisition Loan For Industrial Property In Long Island
FINANCED
$4,000,000
New York
See Similar DealsIndustrial34,000 SF
Financed 03/31/2022
FINANCED
Dime Community Bank Provides $4M Acquisition Loan For Industrial Property In Long Island
80 Davids Drive, Hauppauge, New York 11788, United States
See Similar DealsIndustrial34,000 SF
Financed 03/31/2022
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$117
Total Square Footage:34,000 SF
Transaction Type:Loan
The industrial property located at 80 Davids Drive in Long Island has recently been involved in a closed transaction. The property spans approximately 34,000 square feet, making it a desirable asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Date: 03/31/2022
- Market: Long Island
- Address: 80 Davids Drive
The lender for this transaction was Dime Community Bank. The loan provided for the acquisition of the property amounted to $4,000,000. It is classified as an acquisition loan and comes with a fixed term of 5 years and a 25-year amortization schedule.
David Wang is the landlord of 80 Davids Drive. The broker representing the deal was Michael Volpe from Highcap Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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