Joseph E. Fingerman & Kenneth A. Stagnari Provide $15,750,000 Acquisition Loan For Office In Jericho
50 Jericho Quadrangle
$20,950,000
Building Size
—
Asset Type
Office
Closing
May 28, 2026
AI
The asset involved in the transaction is an office property located at 50 Jericho Quadrangle in Jericho. The acquisition loan amount is $15,750,000, facilitating the purchase of the asset.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,750,000
- Lender: Joseph E. Fingerman & Kenneth A. Stagnari - Peapack Private Bank & Trust
- Landlord: MDJ Realty
- Loan Type: Acquisition
Key individuals involved in the transaction include Joseph E. Fingerman and Kenneth A. Stagnari, who served as the lender through Peapack Private Bank & Trust. MDJ Realty is identified as the landlord associated with the property.
Players
Jericho 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93