facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Loan

/

Forest Hills

Aaron Naiman Secures $21 Million Refinance Loan From ConnectOne Bank For Retail Asset In Forest Hills
FINANCEDRetail

Aaron Naiman Secures $21 Million Refinance Loan From ConnectOne Bank For Retail Asset In Forest Hills

$21,000,000

$840/SF

Building Size

25,000 SF

Asset Type

Retail

Closing

May 21, 2026

AI

The property asset involved in the transaction is a retail space located in the Forest Hills market, comprising an area of 25,000 square feet. The transaction was primarily a refinance valued at $21,000,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $21,000,000
  • Lender: ConnectOne Bank
  • Landlord: Aaron Naiman
  • Loan Originator: Michael Helmreich, Jake Gluck & Asher Spingarn - Fortune Capital Group
  • Loan Type: Refinance
  • Loan Terms: 5 Years, 6.25%, 30 Year Amortization, Flexible PPP

The deal involved key individuals such as the landlord Aaron Naiman and the loan originators who are part of Fortune Capital Group, specifically Michael Helmreich, Jake Gluck, and Asher Spingarn. For financing needs, interested parties can contact Jake Gluck at 973-713-6673 or via email at [email protected].

Players

ConnectOne Bank
ConnectOne BankLender

Jake Gluck

Fortune Capital Group

Originator

$407.2M

vol

41 deals

Originator

Market Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.76%

Cash-on-Cash

-0.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93