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
Long Island City Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
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