Berkshire Bank Provides $36.1M Loan For Retail Property In Poughkeepsie
838 South Rd,Poughkeepsie,New York
$36,100,000
$70/SF
Building Size
512,218 SF
Asset Type
Retail
Closing
Feb 21, 2023
AI
The property involved in this transaction is a retail space located at 838 South Rd in Poughkeepsie. It spans a total area of 512,218 square feet. The transaction took place on February 21, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $36,100,000
- Address: 838 South Rd
- Market: Poughkeepsie
- Asset Type: Retail
- Square Footage: 512,218 SF
The loan for this transaction was provided by Berkshire Bank. The brokers who represented the parties involved in this deal were Mike Tepedino and Stephen Van Leer from the JLL agency.
Players
Poughkeepsie Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93