Norse Realty Group Secures $13,250,000 Refinance Loan From Peapack Private Bank & Trust
3100 Ocean Avenue
$13,250,000
Building Size
—
Asset Type
Retail
Closing
Sep 23, 2026
About this deal
AI
The retail asset involved in this transaction is located at 3100 Ocean Avenue, Brooklyn. The transaction was for a refinance amounting to $13,250,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,250,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Borrower: Norse Realty Group
- Loan Type: Refinance
- Date of Transaction: 09/23/2026
The key individuals involved in this transaction are Joseph E. Fingerman and Nicholas LaMorte, who represented Peapack Private Bank & Trust as the lender in the deal for Norse Realty Group. Their involvement highlights the participation of established professionals in the financial aspect of the transaction.
On the Map
$13,250,000
Retail
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Players
Brooklyn 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93