Robert Ranieri Of NorthMarq Secures $8.3M Construction Loan For Self Storage In Smithtown
1036 West Jericho Turnpike
$8,300,000
Units
673
Asset Type
Self Storage
Closing
Apr 7, 2026
AI
A self-storage facility consisting of 673 units is being developed at 1036 West Jericho Turnpike, located in Smithtown, NY. The construction project has secured a loan amount of $8,300,000 designated for the building of the property.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $8,300,000
- Loan Type: Construction
- Address: 1036 West Jericho Turnpike
- Market: Smithtown
- Units: 673
Robert Ranieri, representing NorthMarq's White Plains Debt + Equity team, played a pivotal role in facilitating the new construction financing for this self-storage facility. The construction of the property is being managed by Lorich Construction.
Players
Smithtown Self Storage Market Snapshot
Boundary boundary · Self Storage · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.91%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93