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
Market 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93