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105 Maxess Road, Melville, ...

Updated Oct 28, 2024

First National Bank Of Long Island Refinances Melville Office Building For $20M
FINANCEDOffice

First National Bank Of Long Island Refinances Melville Office Building For $20M

105 Maxess Road, Melville, New York 11747, United States

$20,000,000

$133/SF

Building Size

150,000 SF

Asset Type

Office

Closing

Jan 2, 2022

About this deal

AI

105 Maxess Road, located in Melville, was involved in a recent property transaction. The asset, classified as an office space, spans a total area of 150,000 square feet. This transaction took place on January 3, 2022.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $20,000,000
  • Lender: First National Bank of Long Island
  • Landlord: T. Weiss Realty Corp.
  • Broker: Walker & Dunlop
  • Loan Type: Refinance
  • Loan Terms: 10 year fixed rate loan

Highlighting the key players in this deal, the loan was facilitated by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Craig Weiss. The First National Bank of Long Island served as the lender, while T. Weiss Realty Corp. acted as the landlord. Walker & Dunlop represented the parties involved as the broker.

On the Map

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$20,000,000

$133/SF

Office

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Players

First National Bank Of Long Island
First National Bank Of Long IslandLender
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Melville Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $133 per square foot on a published $20M for 150,000 square feet (2022).

Browse New York office loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.79%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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