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
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