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Bank Of Montreal, Torchlight And M&T Bank Provide $119.5M Refinance Loan For 1 Seneca Street

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FINANCED
$119,500,000

New York

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Mixed-use1,300,000 SF
Financed 02/18/2026
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Property Image
FINANCED

Bank Of Montreal, Torchlight And M&T Bank Provide $119.5M Refinance Loan For 1 Seneca Street

1 Seneca Street

See Similar Deals
Mixed-use1,300,000 SF
Financed 02/18/2026
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$91
Total Square Footage:1,300,000 SF
Transaction Type:Loan

The property asset involved in the transaction is a mixed-use development located at 1 Seneca Street, Buffalo. It encompasses a total square footage of 1,300,000 and is associated with a loan amount of $119,500,000. The loan type is a refinance, structured over a term of 5 years.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $119,500,000
  • Address: 1 Seneca Street
  • Market: Buffalo
  • Lender: Bank of Montreal, Torchlight, M&T Bank
  • Landlord: Norman Jemal, Douglas Jemal, Jordan Klinger, Zach Kramer - Douglas Development Corporation
  • Brokers: Donna Falzarano, Zach Casale - M&T Realty Capital Corporation
  • Landlord's Attorney: Alex Kaplan - DLA Piper
  • Loan Terms: 5 Years

The key individuals involved in the deal include the landlords, Norman Jemal, Douglas Jemal, Jordan Klinger, and Zach Kramer, all representing Douglas Development Corporation. The brokerage representation is provided by Donna Falzarano and Zach Casale from M&T Realty Capital Corporation, while the legal side is handled by Alex Kaplan from DLA Piper.

Players

Donna Falzarano
5 deals$237.6M volume
BROKER

Zach Casale
 M&T Realty Capital Corporation
1 deal$119.5M volume
BROKER

Zach Casale
 M&T Realty Capital Corporation
1 deal$119.5M volume
BROKER

Bank of Montreal (BOM)
ORIGINATOR

Details

FINANCED
IMAGE: Jordan Klinger, Zach Kramer, Norman Jemal, Douglas Jemal, Zach Casale, Donna Falzarano & Alex Kaplan DATE: 2/18/2026 ADDRESS: 1 Seneca Street MARKET: Buffalo ASSET TYPE: Mixed-use ~ SF: 1,300,000 LENDER: Bank of Montreal (@BMO_US), Torchlight, M&T Bank (@MandT_Bank) LANDLORD: Norman Jemal, Douglas Jemal, Jordan Klinger & Zach Kramer - Douglas Development Corporation, BROKERS: Donna Falzarano & Zach Casale - M&T Realty Capital Corporation LANDLORD'S ATTORNEY: Alex Kaplan - DLA Piper LOAN AMOUNT: $119,500,000 LOAN TYPE: Refinance LOAN TERMS: 5 Years

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$119,500,000.00

Monthly NOI$796,666.67
Monthly Debt Service$755,321.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00