Chase Bank Refinances Nanuet Retail Property For $12M With Landlord Abe Israel
44 Hutton Avenue, Nanuet, NY, USA
$12,000,000
$89/SF
Building Size
134,005 SF
Asset Type
Retail
Closing
Nov 19, 2021
About this deal
AI
Located in Nanuet, the retail property at 44 Hutton Avenue recently underwent a loan transaction. The property spans a total of 134,005 square feet, making it a substantial asset in the market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $12,000,000
- Address: 44 Hutton Avenue
- Market: Nanuet
Chase Bank, represented by J.P. Morgan, provided the loan of $12,000,000 for this deal. The loan type in this transaction was a refinance. The loan terms span over a period of 10 years, with full term interest-only payment and a non-recourse agreement.
The landlord for this property is Abe Israel. Morris Dweck, from ABS Altman Warwick, acted as the broker in this transaction, representing the parties involved and facilitating the deal.
Players
Nanuet 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93