Eastern Union Brokers Secure $10M Loan For Development Site At 113-02 Atlantic Avenue, Richmond Hills, Queens
FINANCED
$10,000,000
Florida
See Similar DealsDevelopment Site1,725 SF
Financed 09/23/2020
FINANCED
Eastern Union Brokers Secure $10M Loan For Development Site At 113-02 Atlantic Avenue, Richmond Hills, Queens
113 02 Atlantic Ave, Jamaica, Ny 11419, Usa
See Similar DealsDevelopment Site1,725 SF
Financed 09/23/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$5,797
Total Square Footage:1,725 SF
Transaction Type:Loan
113-02 Atlantic Avenue, a development site located in Richmond Hills, Queens, has recently undergone a loan transaction. The loan was provided by S3Capital to facilitate the construction of a new project on the site. The property is zoned as R6A and C2-3, allowing for various development opportunities.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Loan Lender: S3Capital
- Landlord: Kamaljit Singh
- Brokers: Motti Blau & Mendy Pfeifer – Eastern Union
The key individuals and companies involved in this deal include Motti Blau and Mendy Pfeifer from Eastern Union, who represented the buyer and seller respectively. Kamaljit Singh acted as the landlord for the property. They were responsible for facilitating the loan and ensuring a successful transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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