Wharton Properties Acquires Retail Property In New Rochelle For $8.5M

Joseph Sutton, Morris Dweck & Jeff Sutton closed a transaction for a retail property located at 810 Main St in New Rochelle. The property is owned by Wharton Properties and the deal was facilitated by broker Morris Dweck of ABS Altman Warwick. The property spans a total area of 7,239 square feet.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $8,500,000
• Lender: Wells Fargo
• Landlord: Wharton Properties
• Broker: Morris Dweck – ABS Altman Warwick
• Loan Terms: 5 years – Full term IO (balance sheet loan) @ 2.86%

The lender for this transaction was Wells Fargo, and the loan amount was $8,500,000. The loan terms included a 5-year duration with full term interest-only payments at a rate of 2.86%. The property, located at 810 Main St in New Rochelle, comprises 7,239 square feet. The deal was facilitated by broker Morris Dweck of ABS Altman Warwick, who represented the buyer, Joseph Sutton, Morris Dweck & Jeff Sutton. Wharton Properties acted as the landlord in this transaction.