Ridgewood Savings Bank Provides $1.5M Loan For Mixed-Use Property On 601 Main Street, New Rochelle
601 Main Street, New Rochelle, NY, USA
$1,500,000
$278/SF
Building Size
5,380 SF
Asset Type
Mixed-use
Closing
Jun 29, 2020
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 601 Main Street in New Rochelle. The transaction took place on June 29, 2021.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $1,500,000
- Market: New Rochelle
- Lender: Ridgewood Savings Bank
- Brokers: Jake Lapidot & Jeff Horowitz - Cooper-Horowitz
The lending institution involved in this transaction is Ridgewood Savings Bank. The brokers who facilitated the deal were Jake Lapidot and Jeff Horowitz from the agency Cooper-Horowitz.
The mixed use loan at 601 Main Street, New Rochelle, NY, USA in City of New Rochelle, New York financed for $1.5M in 2020. The building is 5,380 square feet, implying about 278 per square foot on the published price. Jake Lapidot, Jeff Horowitz, Cooper Horowitz appear on the loan alongside Cooper Horowitz. This page is the City of New Rochelle, New York file for the 601 Main Street, New Rochelle, NY, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same City of New Rochelle sit in the Market section below. Filter that City of New Rochelle mixed use set by closing date to see what else financed near 601 Main Street, New Rochelle, NY, USA around 2020. Published consideration for 601 Main Street, New Rochelle, NY, USA is $1.5M, dated 2020. Cite this Ridgewood Savings Bank Provides $1.5M Loan For Mixed-Use Property On 601 Main Street, New Rochelle loan when underwriting similar mixed use product around City of New Rochelle, New York.
Players
City of New Rochelle 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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93