JLL Brokers $90M Loan For Mixed-Use Property In Jackson Heights
71 17 Roosevelt Ave, Jackson Heights, Ny 11372, Usa
$90,000,000
$321/SF
Building Size
279,630 SF
Asset Type
Mixed-use
Closing
May 10, 2020
AI
Roosevelt Parc, located at 71-17 Roosevelt Avenue in Jackson Heights, Queens, has recently undergone a closed transaction. The mixed-use property, spanning 279,630 square feet, consists of 154 units. The transaction involved a loan amount of $90,000,000 from Principal Life.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $90,000,000
- Address: 71-17 Roosevelt Avenue, Jackson Heights, Queens
- Square Footage: 279,630
- Units: 154
JLL, represented by Geoff Goldstein, Steve Klein, and Jeff Julien, served as the brokers in this transaction.
Players
Jackson Heights Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93