Meridian Capital Group Refinances Retail Shopping Center In Riverhead, NY For $15.8M
1087-1103 Old Country Rd
$15,795,000
Building Size
—
Asset Type
Retail
Closing
Oct 13, 2022
About this deal
AI
A retail shopping center located at 1087-1103 Old Country Rd in the Staples Plaza in Riverhead, NY, Long Island has undergone a refinance loan transaction. The property features tenants such as Staples, Big Lots, Harbor Freight, Bethpage Federal Credit Union, and Subway. The loan amount for this transaction was $15,795,000 with a loan type of refinance. The loan terms were 5 years fixed at a rate of 4.75% 🔥🔥🔥.
Summary of transaction details
- Property Type: Retail – Shopping Center
- Transaction Amount: $15,795,000
- Address: 1087-1103 Old Country Rd – Staples Plaza
- Market: Riverhead, NY – Long Island
David Oheb and Max Jacobson from Meridian Capital Group acted as the brokers for this transaction. For more information on how Meridian can add value to your portfolio, please contact David Oheb at 212-612-0193 or [email protected].
Players
Riverhead 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
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93