OceanFirst Bank Provides $5 Million Refinance Loan For Retail Property In Hempstead
387 Fulton Avenue, Hempstead, New York 11550, United States
$5,000,000
$286/SF
Building Size
17,430 SF
Asset Type
Retail
Closing
Feb 14, 2022
AI
Located at 387-403 Fulton Avenue in Hempstead, this retail property spans approximately 17,430 square feet. The property was recently involved in a closed transaction for a loan refinance.
Summary of Transaction Details
- Property Type: Retail
- Transaction Amount: $5,000,000
- Date: 02/15/2022
- Lender: OceanFirst Bank
- Broker: Alec Feintuch - Leviathan Capital
- Loan Type: Refinance Loan
- Loan Terms: 7-Year Fixed at 3.85% with no lender commitment fee
The loan for the property was provided by OceanFirst Bank. Alec Feintuch from Leviathan Capital represented the borrower in securing this loan.
Players
Village of Hempstead 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93