TD Bank Provides $1,025,000 Refinance Loan To Landlord David Noor For Retail In Farmingdale
1050 Broad Hollow Road
$1,025,000
$488/SF
Building Size
2,098 SF
Asset Type
Retail
Closing
Jun 26, 2024
AI
The asset involved in this transaction is a retail property located at 1050 Broad Hollow Road, Farmingdale. It has a total square footage of 2,098 and was refinanced for an amount of $1,025,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,025,000
- Lender: TD Bank
- Landlord: David Noor
- Broker: Raviv Gailor & Zachary Grossman - Meridian Capital Group
- Loan Type: Refinance
This transaction highlights the involvement of Raviv Gailor and Zachary Grossman, who represented the interests of the landlord, David Noor, throughout the refinancing process with TD Bank.
Players
Farmingdale Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93