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1250 Corporate Drive

Mattone Investors Refinances Retail Property On Corporate Dr In Westbury For $80.1M
FINANCEDRetail

Mattone Investors Refinances Retail Property On Corporate Dr In Westbury For $80.1M

1250 Corporate Drive

$80,100,000

$187,149/SF

Building Size

428 SF

Asset Type

Retail

Closing

Jun 1, 2023

AI

A retail property located at 1250 Corporate Dr in Westbury has been involved in a recent closed transaction. The property spans across 428,483 square feet and was represented by brokers Charles Cotsalas & Robert Delitsky from Northmarq. The landlord for this property is Mattone Investors.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $80,100,000
  • Loan Type: Refinancing

The refinancing of this retail property involved a loan amount of $80,100,000. The transaction was facilitated by the brokers Charles Cotsalas & Robert Delitsky from Northmarq. This transaction took place on January 6, 2023.

Players

Charles Cotsalas

NorthMarq

Broker

$196.6M

vol

4 deals

Broker
MI
Mattone InvestorsLandlord

Westbury 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

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93