The property at 960 Halsey Street, located in the Bedford-Stuyvesant market, is an owner-occupied grocery store with a total square footage of 12,500 and comprises one unit. The acquisition loan amount for this property is $6,500,000, structured with a loan type that features a 70% loan-to-value ratio, interest-only payments for one year, a five-year term, and a 25-year amortization schedule. This property was previously a vacant Rite Aid, set to be converted into a Food Town Grocery Store, with parking situated beneath the Halsey Street subway station.

Summary of transaction details:

• Property Type: Owner Occupied Grocery Store
• Transaction Amount: $6,500,000
• Loan Type: Acquisition
• Loan Terms: 70% LTV, 1 Year IO, 5 Year Term, 25 Year Amortization
• Landlord: Fouad Elayyan
• Brokers: Matthew Dzbanek & Matt Swerdlow - Ariel Property Advisors

Matthew Dzbanek and Matt Swerdlow represented the landlord in this transaction, highlighting their involvement in facilitating the acquisition process for the property. Their expertise in the Bedford-Stuyvesant market played a crucial role in the execution of this deal.