Suffolk Federal Credit Union Provides $1.7M Loan For Acquisition Of Retail Property In Ronkonkoma

Located at 827 Portion Road in Ronkonkoma, this retail property spans an impressive 8,525 square feet. The acquisition of this property was made possible through a loan provided by Suffolk Federal Credit Union. The loan amount of $1,725,000 allowed Allon Avgi to become the landlord of this prime retail space. The loan terms offered a fixed interest rate of 3.625% for 5 years, with a 12-month interest-only period.

Summary of transaction details:

• Property Type: Retail
• Address: 827 Portion Road
• Market: Ronkonkoma
• Loan Amount: $1,725,000
• Lender: Suffolk Federal Credit Union
• Landlord: Allon Avgi
• Broker: John Libretti - Progress Capital
• Loan Type: Acquisition
• Loan Terms: 3.625% Fixed for 5-Years, 12-months I/O

Represented by John Libretti of Progress Capital, the successful acquisition of this retail property showcases the expertise and dedication of the individuals involved in this deal. Both Allon Avgi, the new landlord, and Suffolk Federal Credit Union, the chosen lender, played pivotal roles in facilitating this transaction. With a favorable loan structure, this acquisition offers promising opportunities for growth and prosperity in the Ronkonkoma market.