Cross River Bank Provides $30M Acquisition Loan For Westfield South Shore In Bay Shore
1701 Sunrise Highway
$30,000,000
$29/SF
Building Size
1,012,872 SF
Asset Type
Retail
Closing
Apr 3, 2023
About this deal
AI
The property involved in this transaction is located at 1701 Sunrise Highway in Bay Shore. It is a retail asset with a total square footage of 1,012,872. The deal was closed on 04/03/2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Lender: Cross River Bank - Shimon Eisikowicz
- Landlord: Namdar Realty Group - Igal Namdar
- Broker: Elliott Kunstlinger - Meridian Capital Group
The loan for this transaction was provided by Cross River Bank, with Shimon Eisikowicz representing the bank. The landlord involved in the deal is Namdar Realty Group, with Igal Namdar as the representative. The broker representing the transaction is Elliott Kunstlinger from Meridian Capital Group.
On the Map
$30,000,000
$29/SF
Retail
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Players
Bay Shore 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93