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
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