Flushing Bank Provides $3 Million Refinance Loan For Mixed-Use Property In Huntington
110 New York Avenue
$3,000,000
$187/SF
Building Size
16,042 SF
Asset Type
Mixed-use
Closing
Jul 13, 2022
About this deal
AI
The mixed-use property located at 110 New York Avenue in Huntington has been involved in a recent closed transaction. The property spans a total of 16,042 square feet and is situated in the market of Huntington.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Date: 07/13/2022
- Address: 110 New York Avenue, Huntington
- Market: Huntington
- Asset Type: Mixed-use
- Square Footage: 16,042
The loan for this transaction was provided by Flushing Bank. Matt Buggenhagen and Jason Labriola of Meridian Capital Group served as the brokers in this transaction.
The loan amount for this transaction was $3,000,000. It was a refinancing loan with a 14-year term. The loan terms included a 1-year interest-only period.
Players
Huntington Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93