GCP Capital Group Refinances Office Property At 275 Broad Hollow Road In Melville For $30M
275 Broad Hollow Road
$30,000,000
$236/SF
Building Size
126,861 SF
Asset Type
Office
Closing
Sep 21, 2022
About this deal
AI
Alan Perlmutter & Michael (Mike) Hennessy of GCP Capital Group, LLC represented the buyer and the seller in the refinancing transaction for an office property located at 275 Broad Hollow Road in Melville. The property was refinanced for a loan amount of $30,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,000,000
- Address: 275 Broad Hollow Road, Melville
- Market: Melville
- BROKERS: Alan Perlmutter & Michael (Mike) Hennessy - GCP Capital Group, LLC
- Loan Type: Refinance
The refinancing deal for the office property at 275 Broad Hollow Road was facilitated by Alan Perlmutter & Michael (Mike) Hennessy of GCP Capital Group, LLC. They represented both the buyer and the seller in the transaction, ensuring a smooth process for the loan refinancing.
On the Map
$30,000,000
$236/SF
Office
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Players
Melville Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93