Allon Avgi Acquires Mixed-Use Property In Northport With $1.9M Loan From First Central Savings Bank
FINANCED
$1,875,000
New York
See Similar DealsMixed-use
Financed 09/16/2021
FINANCED
Allon Avgi Acquires Mixed-Use Property In Northport With $1.9M Loan From First Central Savings Bank
2-8 Laurel Road, Northport, NY, USA
See Similar DealsMixed-use
Financed 09/16/2021
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
Allon Avgi, the landlord of the mixed-use property located at 2-8 & 34-38 Laurel Road in Northport, has secured a $1,875,000 acquisition loan from First Central Savings Bank. The loan was facilitated by John Libretti of Progress Capital on behalf of Allon Avgi.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,875,000
- Loan Type: Acquisition Loan
- Lender: First Central Savings Bank
- Landlord: Allon Avgi
- Broker: John Libretti - Progress Capital
This deal highlights the successful collaboration between Allon Avgi as the landlord and John Libretti from Progress Capital as the broker. The acquisition loan of $1,875,000 provided by First Central Savings Bank will support the investment in the mixed-use property located at 2-8 & 34-38 Laurel Road in Northport.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,875,000.00
Monthly NOI$12,500.00
Monthly Debt Service$11,851.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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