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Dime Community Bank Provides $4M Acquisition Loan For Industrial Property In Long Island

80 Davids Drive
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This Industrial property located in NY received a loan of $4,000,000 almost 2 years ago. The broker of the deal was Michael Volpe

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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Deals
  • Location
    80 Davids Drive, Hauppauge, New York 11788, United States80 Davids Drive, Hauppauge, New York 11788, United States
  • Loan Value
    $4,000,000$4,000,000
  • Asset Type
    IndustrialIndustrial
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Michael Volpe

Michael Volpe

Deals17
Financed$69.7M

Agency

Highcap Group

Highcap Group

Agency
Deals85
Volume$597.6M

Dime Community Bank

Dime Community Bank

Lender
Deals27
Volume$ 10.2B

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Deal Summary

LOAN IMAGE: Michael Volpe DATE: 03/31/2022 ADDRESS: 80 Davids Drive MARKET: Long Island ASSET TYPE: Industrial ~ SF: 34,000 LENDER: Dime Community Bank LANDLORD: David Wang BROKER: Michael Volpe (@VolpeMV14) - Highcap Group (@Highcap_Group) LOAN AMOUNT: $4,000,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 5 years fixed, 25 year amortization

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80 Davids Drive

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