Michael Hoffenberg's Trevian Capital Provides $9M Acquisition Loan For 19,000 SF Retail Property In Hamptons
FINANCED
$9,000,000
New York
See Similar DealsRetail19,000 SF
Financed 01/31/2024
FINANCED
Michael Hoffenberg's Trevian Capital Provides $9M Acquisition Loan For 19,000 SF Retail Property In Hamptons
15 Hill Street
See Similar DealsRetail19,000 SF
Financed 01/31/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$473
Total Square Footage:19,000 SF
Transaction Type:Loan
The Hamptons retail property located at 15 Hill Street has been sold in a closed transaction. The property spans an impressive 19,000 square feet and is classified as a retail asset.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,000,000
- Address: 15 Hill Street
- Market: Hamptons
- Lender: Michael Hoffenberg - Trevian Capital
- Broker: Ryan Horowitz - Cooper Horowitz
Michael Hoffenberg from Trevian Capital served as the lender for this acquisition loan. The loan amount was $9,000,000 and was utilized for the purchase of the retail property at 15 Hill Street. Ryan Horowitz from Cooper Horowitz represented the buyer throughout the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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