KSR Capital Secures $1.84 Million Loan For Industrial Property In Pelham
FINANCED
$1,840,000
New York
See Similar DealsIndustrial23,500 SF
Financed 12/17/2024
FINANCED
KSR Capital Secures $1.84 Million Loan For Industrial Property In Pelham
5 Canal Road
See Similar DealsIndustrial23,500 SF
Financed 12/17/2024
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:23,500 SF
Transaction Type:Loan
The property located at 5 Canal Road, situated in the Pelham market, encompasses an industrial asset type with a total square footage of 23,500. The transaction involves a loan amounting to $1,840,000, designated for acquisition purposes. The loan is structured with terms of 2 years interest-only, referencing SOFR plus 375 basis points, and is classified as non-recourse.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $1,840,000
- Address: 5 Canal Road
- Market: Pelham
- Asset Size: 23,500 SF
- Landlord: KSR Capital
- Broker: Morris Dweck - KSR
- Loan Type: Acquisition
- Loan Terms: 2 years IO, SOFR + 375, Non-Recourse
Morris Dweck played a pivotal role in this transaction by successfully arranging non-recourse financing for the vacant property, drawing upon resources from a local New York bank.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,840,000.00
Monthly NOI$12,266.67
Monthly Debt Service$11,630.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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