Tappan 108 Owner, LLC Acquires 54.8-Acre Chrysler Parts Depot In Tappan For $49.6M | 108 Route 303 | H.I.G. Capital | Retail | Sale

Summary

Sale

NEW YORK

Retail

304,000 sqft

The Chrysler Parts Depot in Tappan, a 54.8-acre retail property, was sold for $49.6 million. The property includes a Class B, 304,000-square-foot building constructed in 1972, situated at 108 Route 303. It also has 218 parking spaces.

Summary of transaction details

Property Type: Retail
Transaction Amount: $49,600,000
Square Footage: 304,000
Address: 108 Route 303, Tappan

The buyer of the property is Tappan 108 Owner, LLC, a Brooklyn-based Delaware company. The seller is FCA US LLC. The lender involved in the transaction is HIG Realty Credit Holdings & LLC, represented by Sami Mnaymneh & Tony Tamer. The loan amount provided by HIG Realty Credit Holdings, LLC is $43,680,000.

Note: The transaction was financed by $43,680,000 from HIG Realty Credit Holdings, LLC.

Players

All
1

Lenders
1

H.I.G. Capital

Details

Deal Summary

SOLD

IMAGE: Sami Mnaymneh & Tony Tamer DATE: 07/24/2023 ADDRESS: 108 Route 303 MARKET: Tappan ASSET TYPE: Retail ~ ACRES: 54.8 BUYER: Tappan 108 Owner, LLC SELLER: FCA US LLC LENDER: HIG Realty Credit Holdings & LLC - Sami Mnaymneh & Tony Tamer SALE PRICE: $49,600,000 SF: 304,000 ~ PPSF: $163 NOTE: The 54.8-acre Chrysler Parts Depot in Tappan was sold for $49.6 million to Tappan 108 Owner, LLC, a Brooklyn-based Delaware company. The property includes a Class B, 304,000-square-foot building constructed in 1972 with 218 parking spaces, financed by $43,680,000 from HIG Realty Credit Holdings, LLC.

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Address108 Route 303

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