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440 Middle Country Road, Mi...

First Central Savings Bank Provides $2 Million Revolving Line Of Credit For Middle Island Multifamily Property
FINANCEDMultiFamily

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

Matt Buggenhagen

Meridian Capital Group

Broker

$184.5M

vol

34 deals

Broker
First Central Savings Bank
First Central Savings 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93