Updated Nov 11, 2025
Michael Federman Of Red Pine Capital Partners Secures $13.5M Refinance For Industrial Asset In Ronkonkoma
Veterans Memorial Highway
$13,500,000
$148/SF
Building Size
90,918 SF
Asset Type
Industrial
Closing
Oct 14, 2025
About this deal
AI
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.
On the Map
$13,500,000
$148/SF
Industrial
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Players
Bohemia 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93