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600 Hempstead Turnpike

Feil Organization Secures $23.5M Refinancing For Home Depot Shopping Center In Elmont, NY
FINANCEDRetail

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

The Feil Organization
The Feil OrganizationBrokerage
Principal Asset Management
Principal Asset ManagementLender

Brian Feil

The Feil Organization

Landlord

$141.9M

vol

4 deals

Landlord

West Hempstead Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

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