Nicholas LaMorte & Joseph E. Fingerman Arrange $4M Refinance Loan For Phillips International Office In Lynbrook
FINANCED
$4,000,000
New York
See Similar DealsOffice32,300 SF
Financed 07/15/2025
FINANCED
Nicholas LaMorte & Joseph E. Fingerman Arrange $4M Refinance Loan For Phillips International Office In Lynbrook
360 Merrick Road
See Similar DealsOffice32,300 SF
Financed 07/15/2025
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$123
Total Square Footage:32,300 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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