FINANCEDRetail
Wharton Properties Secures $5.15 Million Refinance Loan From Peapack Private Bank & Trust
2902 Third Avenue
$5,150,000
Building Size
—
Asset Type
Retail
Closing
Aug 25, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 2902 Third Avenue in the Bronx. The loan amount secured for this asset is $5,150,000 through refinancing.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,150,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Borrower: Wharton Properties
- Loan Type: Refinance
- Transaction Date: 08/25/2026
Key individuals involved in this transaction include Joseph E. Fingerman and Nicholas LaMorte, who represent Peapack Private Bank & Trust as the lenders in this refinance deal with Wharton Properties.
Players
Bronx 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
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93