Joseph E. Fingerman & Nicholas LaMorte Secure $8.7 Million Refinance Loan For Mixed-Use Asset In Jackson Heights
83-01 Roosevelt Avenue
$8,700,000
Building Size
—
Asset Type
Mixed-use
Closing
Mar 10, 2026
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 83-01 Roosevelt Avenue in the Jackson Heights market. The loan amount secured for the refinance is $8,700,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,700,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Landlord: First-Class Management
- Loan Type: Refinance
- Date: 3/11/2026
The key individuals involved in this transaction include Joseph E. Fingerman and Nicholas LaMorte, who represent Peapack Private Bank & Trust as the lender for the deal. The landlord of the property is First-Class Management, overseeing the management of the asset.
Players
Jackson Heights 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
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93