OceanFirst Bank Refinances $24.7M Loan For Retail Property In Fordham Manor
FINANCED
$24,700,000
New York
See Similar DealsRetail37,287 SF
Financed 07/07/2022
FINANCED
OceanFirst Bank Refinances $24.7M Loan For Retail Property In Fordham Manor
2543 Webster Avenue, The Bronx, New York 10458, United States
See Similar DealsRetail37,287 SF
Financed 07/07/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$662
Total Square Footage:37,287 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,700,000.00
Monthly NOI$164,666.67
Monthly Debt Service$156,120.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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