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38 27 30th St, Long Island ...

Lightstone Group Provides $11M Loan For Museum In Long Island City, AB Capstone Leases Property At 38-27 30th Street
FINANCEDOther

Lightstone Group Provides $11M Loan For Museum In Long Island City, AB Capstone Leases Property At 38-27 30th Street

38 27 30th St, Long Island City, Ny 11101, Usa

$11,000,000

$44/SF

Building Size

250,000 SF

Asset Type

Other

Closing

Feb 19, 2020

AI

The Museum located at 38-27 30th Street in Long Island City has been involved in a recent transaction. The property, spanning 25,000 square feet, was part of a deal that included a loan amount of $11,000,000. The lender for this transaction was the Lightstone Group, while the landlord was AB Capstone represented by Meir Babaev.

Summary of transaction details:

  • Property Type: Museum
  • Transaction Amount: $11,000,000
  • Square Footage: 25,000
  • Address: 38-27 30th Street
  • Market: Long Island City
  • Lender: Lightstone Group
  • Landlord: AB Capstone – Meir Babaev

The individuals involved in this transaction include David Lichtenstein, @JonFhima, Eugene Rozovsky, Travis Dickenson, and Mitchell Hochberg. Each of them played a key role in the deal as representatives of their respective parties.

Players

Meir Babaev

AB Capstone

Landlord

$57.3M

vol

3 deals

Landlord

Long Island City Other Market Snapshot

Boundary boundary · Other · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.44%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93