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
Bay Shore Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
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