Feil Organization Secures $23.5M Refinancing For Home Depot Shopping Center In Elmont, NY
600 Hempstead Turnpike
$23,500,000
$87/SF
Building Size
269,490 SF
Asset Type
Retail
Closing
Jan 19, 2024
AI
The Feil Organization has successfully secured a $23.5 million refinancing for the Home Depot Shopping Center in Elmont, NY. The property is a retail asset with approximately 269,490 square feet of space located at 600 Hempstead Turnpike in Elmont. The loan was obtained from Principal Asset Management.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,500,000
- Date: 01/19/2024
- Market: Elmont
- Landlord: Brian Feil - Feil Organization
In this refinancing deal, Patrick G. Halter from Principal Asset Management served as the lender. Brian Feil, representing the Feil Organization, acted as the landlord for the transaction.
Players
West 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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93