Visions FCU Provides $1.2M Refinance Loan For Retail Property In Seaford

A retail property located at 3600 Merrick Road in Seaford has recently undergone a loan transaction. The property spans across 7,768 square feet and is owned by Allon Avgi. The lender involved in this transaction is Visions Federal Credit Union. The loan amount for this refinance deal is $1,277,500 with a loan term of 15 years and an interest rate of 7.25%. The loan agreement does not include any prepayment penalties and has a loan-to-value (LTV) ratio of 70%.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $1,277,500
• Address: 3600 Merrick Road, Seaford
• Market: Seaford
• Square Footage: 7,768
• Lender: Visions Federal Credit Union
• Landlord: Allon Avgi

Ariel Shitrit from Refined CRE represented the landlord, Allon Avgi, in this loan transaction.