Michael Federman Of Red Pine Capital Partners Secures $13.5M Refinance For Industrial Asset In Ronkonkoma
FINANCED
$13,500,000
New York
See Similar DealsIndustrial90,918 SF
Financed 10/15/2025
FINANCED
Michael Federman Of Red Pine Capital Partners Secures $13.5M Refinance For Industrial Asset In Ronkonkoma
Veterans Memorial Highway
See Similar DealsIndustrial90,918 SF
Financed 10/15/2025
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$148
Total Square Footage:90,918 SF
Transaction Type:Loan
The property asset is a 90,918 square foot industrial space located at 1000 Macarthur Memorial Hwy in Ronkonkoma. The transaction involved a loan amount of $13,500,000 for the purpose of refinancing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $13,500,000
- Loan Type: Refinance
- Landlord: Michael Federman - Red Pine Capital Partners; Double Z Holdings; Elan Hakimian & Sunder Jambunathan - Certes Partners; Adam Hakimian & Michael Hakimian - The Hakimian Organization
The transaction reflects a refinance and upsize of an existing loan, providing cash out to ownership in just over one year. The sponsors are actively pursuing more acquisition opportunities.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,500,000.00
Monthly NOI$90,000.00
Monthly Debt Service$85,329.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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