OceanFirst Bank Provides $5 Million Refinance Loan For Retail Property In Hempstead
FINANCED
$5,000,000
New York
See Similar DealsRetail17,430 SF
Financed 02/15/2022
FINANCED
OceanFirst Bank Provides $5 Million Refinance Loan For Retail Property In Hempstead
387 Fulton Avenue, Hempstead, New York 11550, United States
See Similar DealsRetail17,430 SF
Financed 02/15/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$286
Total Square Footage:17,430 SF
Transaction Type:Loan
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
BROKERAGE
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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