TD Bank Provides $3.2M Loan For Retail Property In Rome
201 S James St Rome, NY 13440, USA
$3,245,000
$3,245,000/SF
Building Size
1 SF
Asset Type
Retail
Closing
Jun 28, 2023
About this deal
AI
The property involved in this closed transaction is a retail asset located at 201 South James Street in the market of Rome. The property has a loan amount of $3,245,000 and the loan type is a purchase loan. The loan terms are a 5-year term with a 5.845% interest rate, and it is classified as a non-recourse loan.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,245,000
- Lender: TD Bank
- Brokers: Jason Labriola, Matt Buggenhagen, and Anthony Colicino from Meridian Capital Group
The deal's key individuals involved in this transaction are Jason Labriola, Matt Buggenhagen, and Anthony Colicino from Meridian Capital Group who represented the buyer and seller in this transaction. They facilitated the loan from TD Bank with a 5-year term and a 5.845% interest rate. This loan is considered non-recourse, providing additional security for the buyer.
Players
Rome 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
4.89%
Cash-on-Cash
-1.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93