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356 New York Ave, Huntingto...

Corey Gluckstal, Andrew Zambratto, Guy Canzoneri Secure $4M Loan For Mixed-Use Property On New York Avenue In Huntington
FINANCEDMixed-use

Corey Gluckstal, Andrew Zambratto, Guy Canzoneri Secure $4M Loan For Mixed-Use Property On New York Avenue In Huntington

356 New York Ave, Huntington, NY 11743, USA

$4,000,000

$500/SF

Building Size

8,000 SF

Asset Type

Mixed-use

Closing

Jul 27, 2020

AI

A mixed-use property located at 356 New York Avenue in Huntington has been involved in a recent closed transaction. The property consists of both residential and commercial units, making it a versatile investment opportunity.

Summary of transaction details:

Sterling National Bank provided a loan amount of $4,000,000 for this transaction. The loan terms include a five-year term, with the first three years on an interest-only basis.

Corey Gluckstal, Andrew Zambratto, and Guy Canzoneri are the landlords involved in this deal. They represent the ownership of the property and facilitated the transaction as key individuals.

Players

Sterling National Bank
Sterling National BankLender

Andrew Zambratto

Peconic Equities

Landlord

$27.8M

vol

5 deals

Landlord

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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93