Bridge Investment Group Provides $20M Loan For Retail Property At 2655 Richmond Avenue In Staten Island
2655 Richmond Ave, Staten Island, NY 10314, USA
$20,000,000
$263/SF
Building Size
76,000 SF
Asset Type
Retail
Closing
Mar 9, 2020
About this deal
AI
The retail property located at 2655 Richmond Avenue in Staten Island has been involved in a recent closed transaction. The property spans a total of 76,000 square feet and is situated in the Staten Island market. The loan amount for this transaction amounted to $20,000,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $20,000,000
- Address: 2655 Richmond Avenue
- Market: Staten Island
- Lender: Bridge Investment Group
- Landlord: Infinity Real Estate
- Brokers: Dustin Stolly, Jordan Roeschlaub & Chris Kramer at NewmarkKF
- SF: 76,000
Dustin Stolly, Jordan Roeschlaub, and Chris Kramer from NewmarkKF represented the parties involved in this retail property transaction. The lender for this deal was Bridge Investment Group, while the landlord was Infinity Real Estate.
On the Map
$20,000,000
$263/SF
Retail
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Players
Staten Island 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93