Manasquan Bank Provides $1.2M Loan For Mixed-Use Property At 6 Chestnut Street In Suffern
6 Chestnut Street, Suffern, NY, USA
$1,200,000
$389/SF
Building Size
3,080 SF
Asset Type
Mixed-use
Closing
Mar 4, 2021
About this deal
AI
Located at 6 Chestnut Street in Suffern, this mixed-use property was recently involved in a closed transaction on March 5, 2021. The property, owned by Eli Raksin, attracted a loan from Manasquan Bank amounting to $1,200,000.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,200,000
- Lender: Manasquan Bank
- Landlord: Eli Raksin
In facilitating the deal, brokers Frank Stanislaski from FStan and John Libretti from JohnLibretti represented the parties involved. They acted on behalf of the landlord and borrower, respectively, with their combined expertise from Progress Capital.
If you have any commercial real estate financing needs, Frank Stanislaski and John Libretti of Progress Capital are ready to assist. You can reach Frank at 732-674-2648 or via email at [email protected]. John can be contacted at 732-275-4839 or via email at [email protected].
Players
Suffern 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
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93