Axiom Capital Corp. has arranged $3,400,000 in permanent financing for a grocery anchored retail plaza in Ellenville, NY. The non-recourse loan was for 10 years with a fixed rate for 5 Years amortized over 25 years. The loan demonstrated a sub 40% LTV at the time of closing.
The property is well located adjacent to the Ellenville Regional Hospital and provides easy ingress and egress from US Route 209. The other major thoroughfare Route 52 that travels from Newburg merge with US Route 209 in Ellenville. Ellenville is about 33.6 miles east of Poughkeepsie, 90 miles northwest of New York City and 90 miles southwest of Albany.
The Store was originally a Big V Supermarket. Subtenants include a mix of local retailers including a hair salon, pizzeria, Chinese take-out, etc. Major retailers in the area include Walmart Supercenter, Walgreens, Dollar General, Family Dollar, AutoZone Auto Parts, Dunkin Donuts, McDonald’s, etc.