OceanFirst Bank Refinances $24.7M Loan For Retail Property In Fordham Manor
2543 Webster Avenue, The Bronx, New York 10458, United States
$24,700,000
$662/SF
Building Size
37,287 SF
Asset Type
Retail
Closing
Jul 6, 2022
AI
The property at 2543, 2549 & 2551 Webster Avenue in Fordham Manor has recently undergone a refinancing transaction. The retail asset spans a total of 37,287 square feet, making it a significant property in the area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,700,000
- Address: 2543, 2549 & 2551 Webster Avenue
- Market: Fordham Manor
- Lender: OceanFirst Bank
- Landlord: Falack Family
The refinancing was facilitated by OceanFirst Bank, who provided a loan of $24,700,000 to the property owner, the Falack Family. This transaction allows the property owner to secure better terms and potentially invest in further improvements for the retail asset at 2543, 2549 & 2551 Webster Avenue in Fordham Manor.
Players
New York 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93