OceanFirst Bank N.A. Provides $20M Refinance Loan For Industrial Property In Ridgewood
Ridgewood, New York, United States
$20,000,000
Building Size
—
Asset Type
Industrial
Closing
Apr 13, 2022
AI
David R. Lachtman & David Hayum recently closed a refinancing deal in Ridgewood's industrial market. The loan transaction was facilitated by OceanFirst Bank N.A., with a loan amount of $20,000,000. The legal counsel for the deal was Lachtman Cohen P.C., represented by David R. Lachtman.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
David Hayum, from Meridian Capital Group, acted as the broker in this transaction. This successful refinancing deal showcases the expertise and collaboration of the individuals and companies involved, ensuring a smooth process for all parties.
Players
New York 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93