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15 05 132nd Street

SecureCom Group's Brian McLaughlin Secures $1.55M Loan From NewBank USA For College Point Industrial Property
FINANCEDIndustrial

SecureCom Group's Brian McLaughlin Secures $1.55M Loan From NewBank USA For College Point Industrial Property

15 05 132nd Street

$1,550,000

$242/SF

Building Size

6,400 SF

Asset Type

Industrial

Closing

Jun 30, 2025

AI

An acquisition loan was secured for a commercial condominium located at 15-05 132nd Street, College Point, NY. The transaction amount was $1,850,000, and the loan amount was $1,550,000. The asset type is industrial, covering a square footage of 6,400. The financing provided by NewBank includes 85% loan-to-value (LTV) and has a term of 25 years, fully amortized.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $1,850,000
  • Loan Amount: $1,550,000
  • Loan Type: Acquisition
  • Loan Terms: 25 Years
  • Lender: Matthew Kang - NewBank USA
  • Landlord: SecureCom Group - Brian McLaughlin
  • Broker: Mercedes Santana - Santana Property Group
  • Mortgage Broker: Guadalupe Phu - Heartland Mortgage

Matthew Kang served as the loan officer for this transaction, while Guadalupe Phu acted as the mortgage broker, facilitating the financing details. Mercedes Santana represented the interests of Santana Property Group in the transaction, ensuring the process progressed smoothly for the involved parties.

Players

Mercedes Santana

Santana Property Group

Broker

$1.6M

vol

1 deal

Broker

Brian McLaughlin

Landlord

$75.1M

vol

3 deals

Landlord
Guadalupe Phu

Guadalupe Phu

Heartland Mortgage

Originator

$1.6M

vol

1 deal

Originator

College Point Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.23%

Cash-on-Cash

-2.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93