Joseph E. Fingerman & Nicholas LaMorte Of Peapack Private Bank & Trust Provide $3.2M Refinance Loan In SoHo
386 West Broadway
$3,200,000
Building Size
—
Asset Type
Retail
Closing
Sep 29, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 386 West Broadway in the SoHo market of Manhattan. The transaction was a refinance, with a loan amount of $3,200,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,200,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Landlord: Michael Alvandi
- Loan Type: Refinance
- Date: 9/29/2025
Key individuals involved in the transaction include Joseph E. Fingerman and Nicholas LaMorte, who represented Peapack Private Bank & Trust as the lender. Michael Alvandi acted as the landlord in this refinancing deal.
On the Map
$3,200,000
Retail
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Players
New York 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93