Teachers Federal Credit Union Provides $5M Loan For Nanuet Retail Property On Hutton Ave | 43 Hutton Avenue (intersection of Route 59 and NY State Thruway) | Teachers Federal Credit Union | Morris Dweck | Retail | Loan

Summary

Loan

NEW YORK

Retail

117,844 sqft

The retail property located at 43 Hutton Ave. in Nanuet, Rockland County, recently underwent a loan transaction. The property is situated at the intersection of Route 59 and NY State Thruway. It spans a total of 117,844 square feet and is owned by Abraham Israel. The loan was secured from Teachers Federal Credit Union (TFCU) in the amount of $5 million.

Summary of transaction details

Property Type: Retail
Transaction Amount: $5M
Date: 01/31/2019
Address: 43 Hutton Ave. (intersection of Route 59 and NY State Thruway)
Market: Nanuet, Rockland County
Lender: Teachers Federal Credit Union (TFCU)
Landlord: Abraham Israel
Broker: Morris Dweck - ABS-AW
Square Footage: 117,844 SF

The loan terms are set at 7+7 years, with no prepayment penalty for the full duration of the loan term. Notably, the mortgage was secured by a long-term ground lease from Home Depot.

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Players

All
3

Agents
1
Agencies
1
Lenders
1

Morris Dweck

Executive Director

Details

Deal Summary

FINANCED

IMAGE: Morris Dweck DATE: 01/31/2019 ADDRESS: 43 Hutton Ave. (intersection of Route 59 and NY State Thruway) MARKET: Nanuet, Rockland County ASSET TYPE: Retail LENDER: Teachers Federal Credit Union (TFCU) LANDLORD: Abraham Israel BROKER: Morris Dweck - ABS-AW LOAN AMOUNT: $5M LOAN TERMS: 7+7 , No prepayment penalty for full duration of loan term SF: 117,844 NOTE: The mortgage was secured by a long term ground lease from Home Depot.

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Address43 Hutton Avenue (intersection of Route 59 and NY State Thruway)

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