Visions Federal Credit Union Provides $5.2M Acquisition Loan For Retail Center In Cicero NY
FINANCED
$5,200,000
New York
See Similar DealsRetail165,225 SF
Financed 01/07/2025
FINANCED
Visions Federal Credit Union Provides $5.2M Acquisition Loan For Retail Center In Cicero NY
7687 Frontage Road
See Similar DealsRetail165,225 SF
Financed 01/07/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$31
Total Square Footage:165,225 SF
Transaction Type:Loan
A retail shopping center located at 7687-7785 Frontage Road in Cicero, NY has a total square footage of 165,225. The loan amount secured for this acquisition is $5,200,000, with terms structured at 65% loan-to-value, 5/25, and an interest rate of 6.75%. Notably, there is no prepayment penalty associated with this loan.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 7687-7785 Frontage Road
- Market: Cicero, NY
- Lender: Visions Federal Credit Union
- Landlord: Bet Cicero
- Broker: Morris Dweck - KSR
- Loan Terms: 65% LTV, 5/25, 6.75%, No Prepayment Penalty
Morris Dweck from KSR facilitated the permanent financing for the retail shopping center deal. For financing inquiries, please contact Morris Dweck at [email protected].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,200,000.00
Monthly NOI$34,666.67
Monthly Debt Service$32,867.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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