Cross River Bank Provides $30M Acquisition Loan For Westfield South Shore In Bay Shore
FINANCED
$30,000,000
New York
See Similar DealsRetail1,012,872 SF
Financed 04/03/2023
FINANCED
Cross River Bank Provides $30M Acquisition Loan For Westfield South Shore In Bay Shore
1701 Sunrise Highway
See Similar DealsRetail1,012,872 SF
Financed 04/03/2023
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$29
Total Square Footage:1,012,872 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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