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1746 Sunrise Hwy, Bay Shore...

Emerald Creek Capital Provides $2.45M Loan For Retail Property In Bay Shore
FINANCEDRetail

Emerald Creek Capital Provides $2.45M Loan For Retail Property In Bay Shore

1746 Sunrise Hwy, Bay Shore, NY, 11...

$2,450,000

Building Size

Asset Type

Retail

Closing

Nov 20, 2023

AI

The property involved is a retail center located at 1746 Sunrise Hwy, Bay Shore, NY. The asset features 14,950 square feet of leasable area, divided into 7 retail units. The acquisition loan provided by Emerald Creek Capital amounted to $2,450,000.00. Situated on a 1.97-acre site, the center boasts 792 feet of frontage on Sunrise Highway, in the bustling market of Bay Shore.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $2,450,000.00
  • Market: Bay Shore
  • Lender's Representative: Senior Vice President (Emerald Creek Capital)
  • Lender: Emerald Creek Capital

Emerald Creek Capital, the lending entity, facilitated the acquisition loan for the multi-tenant retail center in Bay Shore. Matt Fantuzzi, Vice President at Emerald Creek Capital, can be contacted for more information regarding the loan. Additionally, the property's proximity to Great South Bay and easy accessibility from Manhattan via public transportation enhances its investment appeal.

Players

Matt Fantuzzi

Emerald Creek Capital

Broker

$114.3M

vol

14 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender

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

6.47%

Cash-on-Cash

-1.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93