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400 Carney St, Glen Cove, N...

TD Bank's CEO Greg Braca Refinances Glen Cove Multifamily Complex For $10.2M
FINANCEDMultiFamily

TD Bank's CEO Greg Braca Refinances Glen Cove Multifamily Complex For $10.2M

400 Carney St, Glen Cove, NY 11542, USA

$10,200,000

Building Size

Asset Type

MultiFamily

Closing

Nov 28, 2020

AI

Frank Caruso’s F Caruso Realty has refinanced a multifamily complex located at 200 and 400 Carney St. in Glen Cove, NY. The deal was facilitated by TD Bank, with President and CEO Greg Braca overseeing the transaction. The broker for this refinance was Bryan Kallenberg from Meridian Capital Group.

Summary of transaction details

  • Property Type: Multifamily Complex
  • Transaction Amount: $10,200,000
  • Term: 5-Years
  • Rate: 3.73%

This refinancing deal for the multifamily complex at 200 and 400 Carney St. in Glen Cove, NY was successfully closed with the assistance of Frank Caruso’s F Caruso Realty as the landlord. The lender, TD Bank, provided a loan amount of $10,200,000 over a term of 5 years with an interest rate of 3.73%. Greg Braca, the President and CEO of TD Bank, oversaw the transaction. Bryan Kallenberg, representing Meridian Capital Group, acted as the broker for this deal.

Players

Bryan Kallenberg

Broker

$1.1B

vol

9 deals

Broker
TD Bank
TD BankLender

Glen Cove MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.56%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93