Visions FCU Provides $1.2M Refinance Loan For Retail Property In Seaford
FINANCED
$1,277,500
New York
See Similar DealsRetail7,768 SF
Financed
FINANCED
Visions FCU Provides $1.2M Refinance Loan For Retail Property In Seaford
3600 Merrick Road
See Similar DealsRetail7,768 SF
Financed
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$164
Total Square Footage:7768 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,277,500.00
Monthly NOI$8,516.67
Monthly Debt Service$8,074.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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