TD Bank Refinances Retail Property In Patchogue For $4.95M
122 Sunrise Service Road South, East Patchogue, New York 11772, United States
$4,950,000
$120/SF
Building Size
41,000 SF
Asset Type
Retail
Closing
Mar 21, 2022
About this deal
AI
An approximately 41,000 square foot retail property located at 122 South Service Road in Patchogue has been refinanced. The property was involved in a closed transaction, with the loan being provided by TD Bank. The loan amount for the refinance was $4,950,000. John Libretti from Progress Capital represented the borrower in this transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,950,000
- Date: 03/22/2022
- Address: 122 South Service Road
- Market: Patchogue
- Borrower's Representative: John Libretti - Progress Capital
This transaction involved the refinancing of a retail property in Patchogue. John Libretti from Progress Capital acted as the borrower's representative in the deal, facilitating the loan provided by TD Bank. The details of the refinancing, including the loan amount of $4,950,000, showcase the financial aspect of the transaction.
Players
East Patchogue 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
3.20%
Cash-on-Cash
-0.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93