Kenneth A. Stagnari & Joseph E. Fingerman Secure $4.65M Refinance Loan For Retail Asset In Flushing
42 01 Main Street
$4,650,000
$89/SF
Building Size
51,790 SF
Asset Type
Retail
Closing
Aug 4, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 42-01 Main Street in Flushing. The total square footage of the asset is 51,790, and it is associated with a loan amount of $4,650,000 for refinancing purposes.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,650,000
- Address: 42-01 Main Street
- Market: Flushing
- Lender: Kenneth A. Stagnari & Joseph E. Fingerman - Peapack Private Bank & Trust
- Landlord: Marin Management
- Loan Type: Refinance
The deal involves Kenneth A. Stagnari and Joseph E. Fingerman, who are representing Peapack Private Bank & Trust as lenders for the refinancing of the retail asset. Marin Management is identified as the landlord in this transaction.
On the Map
$4,650,000
$89/SF
Retail
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Players
Flushing 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
3.41%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93