Nicholas LaMorte & Joseph E. Fingerman Arrange $4M Refinance Loan For Phillips International Office In Lynbrook
360 Merrick Road
$4,000,000
$123/SF
Building Size
32,300 SF
Asset Type
Office
Closing
Jul 14, 2025
About this deal
AI
The asset involved in this transaction is an office property located at 360 Merrick Road in Lynbrook, consisting of 32,300 square feet. The transaction pertains to a refinance loan amounting to $4,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,000,000
- Loan Type: Refinance
- Lender: Nicholas LaMorte & Joseph E. Fingerman - Peapack Private Bank & Trust
- Landlord: Phillips International
The deal involves key individuals, Nicholas LaMorte and Joseph E. Fingerman, who represent Peapack Private Bank & Trust in the financing arrangement for the landlord, Phillips International. Their collaboration facilitated the refinancing of the property.
On the Map
$4,000,000
$123/SF
Office
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Players
Lynbrook 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93