First Central Savings Bank Provides $2 Million Revolving Line Of Credit For Middle Island Multifamily Property
440 Middle Country Road, Middle Island, New York 11953, United States
$2,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 27, 2022
AI
The multifamily property located at 440 Middle Country Road in Middle Island has been involved in a recent transaction. The transaction took place on 10/28/2022 and the asset type is a multifamily property. The property was secured with a loan from First Central Savings Bank in the amount of $2,000,000. The loan type is a revolving line of credit.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 440 Middle Country Road
- Market: Middle Island
The brokers involved in this transaction were Matt Buggenhagen and Jason Labriola from Meridian Retail Leasing. They represented the buyer and seller in the deal. They played a crucial role in facilitating the transaction between the parties involved.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93