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440 Middle Country Rd Middl...

M&T Bank Provides $2.1M Refinance Loan For Middle Island Multifamily
FINANCEDMultiFamily

M&T Bank Provides $2.1M Refinance Loan For Middle Island Multifamily

440 Middle Country Rd Middle Island, NY 11953, USA

$2,100,000

Building Size

Asset Type

MultiFamily

Closing

Jul 19, 2023

AI

The property involved in this closed transaction is a multifamily asset located at 440 Middle Country Road in Middle Island. The transaction was a refinance loan provided by M&T Bank.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,100,000
  • Loan Type: Refinance
  • Loan Terms: 5-year term Stepdown Prepayment

The loan was facilitated by brokers Matt Buggenhagen, Jason Labriola, and Anthony Colicino from Meridian Capital Group. They represented the involved parties in the transaction.

Players

Matt Buggenhagen

Meridian Capital Group

Broker

$184.5M

vol

34 deals

Broker
M&T Bank
M&T BankLender

Middle Island 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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93