Joseph E. Fingerman & Nicholas LaMorte Secure $8.6M Refinance Loan For Retail Asset In Bronx
961 Southern Boulevard
$8,600,000
Building Size
—
Asset Type
Retail
Closing
Mar 31, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 961 Southern Boulevard in the Bronx. The refinancing amounts to $8,600,000, facilitating the ongoing operations of the asset managed by Jem Realty Management.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,600,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Landlord: Jem Realty Management
- Loan Type: Refinance
- Transaction Date: 4/1/2026
The loan was arranged by Joseph E. Fingerman and Nicholas LaMorte, who acted as representatives from Peapack Private Bank & Trust in this transaction, ensuring the financial arrangements were appropriately structured for Jem Realty Management. Their role highlights the importance of professional representation in real estate financing.
Players
Bronx 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
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93