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
About this deal
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.
On the Map
$5,000,000
$286/SF
Retail
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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