Avnish Kumar Secures $2.43M Loan From Preferred Bank For Retail Asset In Hicksville

The asset involved in this transaction is a retail property located at 640 South Broadway in the Hicksville market, comprising a total square footage of 9,060. The financing for this acquisition was secured with a loan amount of $2,430,000, under terms spanning 5 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,430,000
• Address: 640 South Broadway
• Market: Hicksville
• Asset Size: 9,060 SF
• Lender: Preferred Bank
• Landlord: Avnish Kumar
• Broker Representatives: Ravinder Chopra, Yuvraj Chopra & Kuwar Chopra - STI Consultants
• Loan Type: Acquisition
• Loan Terms: 5 Years

The transaction was facilitated by STI Consultants, a commercial finance firm known for structured lending solutions across various sectors, including retail, hotels, and mixed-use properties. The firm boasts a proven track record in closing transactions, emphasizing its industry expertise and strong relationships with lenders.