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2795 Richmond Ave, Staten I...

MetLife Provides $51M Loan For Retail Property On Richmond Ave, Staten Island
FINANCEDRetail

MetLife Provides $51M Loan For Retail Property On Richmond Ave, Staten Island

2795 Richmond Ave, Staten Island, NY...

$51,000,000

Building Size

Asset Type

Retail

Closing

Oct 25, 2018

AI

The property located at 2795 Richmond Ave, Staten Island, NY, was involved in a recent transaction. The asset, a retail property, secured a loan amounting to $51,000,000.00. The lender for this transaction was metlife-real-estate-investors-duplicate''>MetLife Real Estate Investors.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $51,000,000.00
  • Address: 2795 Richmond Ave, Staten Island, NY
  • Market: Staten Island
  • Borrower's Representative: Robert "Bob" Altman
  • Lender: MetLife Real Estate Investors

Robert "Bob" Altman acted as the borrower's representative in this transaction, showcasing skilled negotiation and representation on behalf of the borrower. His expertise contributed to the successful completion of the deal, highlighting the importance of having knowledgeable professionals in real estate transactions.

Players

Robert Altman

Broker

$595.2M

vol

10 deals

Broker
MetLife
MetLifeLender

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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93