Joseph E. Fingerman & Nicholas LaMorte Secure $6.5M Retail Refinance Loan In Brooklyn
2228 Church Avenue
$6,500,000
Building Size
—
Asset Type
Retail
Closing
Mar 25, 2026
About this deal
AI
The property asset is a retail space located at 2228 Church Avenue in Brooklyn. The refinancing transaction involves a loan amount of $6,500,000 to support the asset's financial needs.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $6,500,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Landlord: A & H Acquisitions Corp
- Loan Type: Refinance
- Date: 3/26/2026
Joseph E. Fingerman and Nicholas LaMorte represent Peapack Private Bank & Trust as the lenders for this refinancing deal involving A & H Acquisitions Corp as the landlord. Their collaboration facilitates the financial transaction aimed at strengthening the asset's position in the market.
On the Map
$6,500,000
Retail
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Players
Brooklyn 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93