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1255 Hewlett Plaza

Lev Capital Arranges $3M Refinance Loan For Retail Property On Hewlett Plaza
FINANCEDRetail

Lev Capital Arranges $3M Refinance Loan For Retail Property On Hewlett Plaza

1255 Hewlett Plaza

$3,000,000

Building Size

Asset Type

Retail

Closing

Jun 22, 2022

AI

Located at 1255 Hewlett Plaza, this retail property in Hewlett has recently undergone a refinancing transaction. The property is situated in a prime market, offering excellent opportunities for businesses in the area.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $3,000,000
  • Loan Type: Refinance
  • Loan Terms: $3,000,000, 4.25%, 10-years, Non-recourse

The refinancing deal was facilitated by Akiva Gottlieb, Richard Sutton, and Yaakov Zar of Lev Capital. These experienced brokers successfully closed the transaction, providing expert guidance throughout the process.

This refinancing deal allows the property owner to take advantage of favorable terms, including a loan amount of $3,000,000 at an interest rate of 4.25%. With a non-recourse loan structure and a 10-year term, the property owner can benefit from improved financial flexibility and potentially secure future business growth.

Players

Yaakov Zar
Verified Badge

Yaakov Zar

Lev

Broker

$189.3M

vol

34 deals

Broker

Hewlett 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

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93