Joseph E. Fingerman & Kenneth Stagnari Secure $5M Refinance Loan For Retail Property In Brooklyn
9101 3rd Avenue
$5,000,000
Building Size
—
Asset Type
Retail
Closing
May 27, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 9101 3rd Avenue in the Brooklyn market. The loan amount for this refinance deal is $5,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,000,000
- Lender: Joseph E. Fingerman & Kenneth Stagnari - Peapack Private Bank & Trust
- Landlord: Louis Lefkowitz Realty
- Loan Type: Refinance
- Transaction Date: 5/28/2025
The key individuals behind this transaction include Joseph E. Fingerman and Kenneth Stagnari, who represent Peapack Private Bank & Trust as the lenders in this loan agreement to Louis Lefkowitz Realty as the landlord of the retail asset.
On the Map
$5,000,000
Retail
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Players
Brooklyn 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93