Marcus & Millichap Capital Corporation Arranges $12.9 Million Loan For Crosstown Plaza In Schenectady
2330 Watt Street
$12,900,000
$61/SF
Building Size
210,515 SF
Asset Type
Retail
Closing
Feb 7, 2025
About this deal
AI
Crosstown Plaza is a grocery-anchored shopping center located at 2330 Watt Street in Schenectady, NY, encompassing a total area of 210,515 square feet. The property has recently secured a refinancing loan amounting to $12.9 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,900,000
- Loan Terms: 3-year term with a 6.65% interest rate and 25-years amortization
- Broker: Steven Rock
- Agency: Marcus & Millichap
- Market: Schenectady
The refinancing was arranged by Marcus & Millichap Capital Corporation, with Steven Rock representing a retail-focused ownership group in this transaction.
Players
Schenectady 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
1.23%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93