Emigrant Bank Provides $2M Acquisition Loan For Retail Property At 74-01 Roosevelt Avenue In New York City

The retail property located at 74-01 Roosevelt Avenue in New York City has recently been involved in a closed transaction. The property spans over 3,000 square feet and is owned by the Rayani Family Trust.

Summary of Transaction Details

• Property Type: Retail
• Transaction Amount: $2,000,000
• Lender: Emigrant Bank
• Landlord: Rayani Family Trust
• Broker: John Lagoudis - Realty Executives
• Mortgage Broker: Aegean Commercial Capital

The loan, valued at $2,000,000, was provided by Emigrant Bank for the purpose of acquisition. It is a purchase mortgage with a 6.5% interest rate. The loan terms include a 10-year term with a 30-year amortization schedule.