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Manasquan Bank Provides $1.2M Loan For Mixed-Use Property At 6 Chestnut Street In Suffern

Property Image
FINANCED
$1,200,000

New York

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Mixed-use3,080 SF
Financed 03/05/2021
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Property Image
FINANCED

Manasquan Bank Provides $1.2M Loan For Mixed-Use Property At 6 Chestnut Street In Suffern

6 Chestnut Street, Suffern, NY, USA

See Similar Deals
Mixed-use3,080 SF
Financed 03/05/2021
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$389
Total Square Footage:3,080 SF
Transaction Type:Loan

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

Frank Stanislaski
56 deals$914.2M volume
BROKER

John Libretti
JL Capital
34 deals$110M volume
BROKER

Progress Capital
BROKERAGE

Details

FINANCED
IMAGE: Frank Stanislaski, John Libretti DATE: 03/05/2021 ADDRESS: 6 Chestnut Street MARKET: Suffern ASSET TYPE: Mixed-use LENDER: Manasquan Bank LANDLORD: Eli Raksin BROKERS: Frank Stanislaski @FStanisl & John Libretti @JohnLibretti - Progress Capital @Progress.Capital LOAN AMOUNT: $1,200,000 NOTE FROM @Progress.Capital: Ready to discuss your CRE financing needs? Contact Frank or John today!⠀ Frank: 📱 732-674-2648 📧 [email protected]⠀ John 📱 732-275-4839, 📧 [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,200,000.00

Monthly NOI$8,000.00
Monthly Debt Service$7,584.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00