Maha Omar Refinances Retail Building With $8.8M Loan In Soundview, Bronx
1600 Westchester Avenue
$8,800,000
$431/SF
Building Size
20,420 SF
Asset Type
Retail
Closing
Mar 14, 2024
AI
The retail building at 1600 Westchester Avenue in Soundview, Bronx, with a square footage of 20,420 and a building square footage of 49,329, was involved in a transaction where Maha Omar, represented by Omar Holding Corp., secured a $8.8 million refinance loan from Suffolk Federal Credit Union.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,800,000
- Address: 1600 Westchester Avenue
- Market: Soundview, Bronx
- Lender: Thomas C. Perri - Suffolk Federal Credit Union
- Landlord: Maha Omar
- Loan Type: Refinance
Maha Omar, represented by Omar Holding Corp., finalized the deal, securing the $8.8 million refinance loan for the retail building from Suffolk Federal Credit Union.
Players
Bronx 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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93