Updated Feb 16, 2024
Dime Community Bank Provides $4M Acquisition Loan For Industrial Property In Long Island
80 Davids Drive, Hauppauge, New York 11788, United States
$4,000,000
$117/SF
Building Size
34,000 SF
Asset Type
Industrial
Closing
Mar 30, 2022
About this deal
AI
The industrial property located at 80 Davids Drive in Long Island has recently been involved in a closed transaction. The property spans approximately 34,000 square feet, making it a desirable asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Date: 03/31/2022
- Market: Long Island
- Address: 80 Davids Drive
The lender for this transaction was Dime Community Bank. The loan provided for the acquisition of the property amounted to $4,000,000. It is classified as an acquisition loan and comes with a fixed term of 5 years and a 25-year amortization schedule.
David Wang is the landlord of 80 Davids Drive. The broker representing the deal was Michael Volpe from Highcap Group.
On the Map
$4,000,000
$117/SF
Industrial
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Property Record
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Players
Hauppauge Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93