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

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FINANCED
$11,000,000

Connecticut

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Other250,000 SF
Financed 02/20/2020
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FINANCED

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

See Similar Deals
Other250,000 SF
Financed 02/20/2020
Contact now

Summary

CONNECTICUT
Asset Type:Other
Price Per Square Foot:$44
Total Square Footage:250,000 SF
Transaction Type:Loan

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.

Details

FINANCED
IMAGE: David Lichtenstein, @JonFhima, Eugene Rozovsky, Travis Dickenson, Mitchell Hochberg, @MeirBabaev DATE: 02/20/2020 ADDRESS: 38-27 30th Street MARKET: Long Island City ASSET TYPE: Museum LENDER: @LightstoneGroup LANDLORD: AB Capstone – Meir Babaev LOAN AMOUNT: $11,000,000 SF: 25,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,000,000.00

Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00