Community Financial Services Bank Provides $4.87M Acquisition Loan For Mixed-Use Property In Rye NY
2 2nd Street
$4,865,100
$278/SF
Building Size
17,500 SF
Asset Type
Mixed-use
Closing
Feb 27, 2025
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 2 Second St., Rye, NY. It comprises a total of 12 residential units and 2 commercial units. The loan amount secured for the acquisition of this property is $4,865,100.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,865,100
- Lender: Community Financial Services Bank (CFSB)
- Broker: Frank Stanislaski - Cushman & Wakefield
- Date of Transaction: 02/27/2025
Frank Stanislaski from Cushman & Wakefield acted as the broker representing the transaction in securing the loan for the acquisition of this asset. Community Financial Services Bank (CFSB) provided the funding necessary for this mixed-use property deal.
Players
Rye 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
3.26%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93