MSD Partners Provides $24M Loan For Development Site In Long Island City
24-02 Queens Plaza S, Long Island City, NY 11101, USA
$24,000,000
Building Size
—
Asset Type
Development Site
Closing
Sep 22, 2020
AI
A development site located at 24-02 Queens Plaza South in Long Island City has been involved in a recent closed transaction. The property, owned by Botanic Properties and represented by Joshua Zinns, attracted a loan amount of $24,000,000 from MSD Partners, with Michael Dell as the lender.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $24,000,000
- Address: 24-02 Queens Plaza South
- Market: Long Island City
The deal was facilitated by brokers Christopher Peck, Steve Klein, and Thomas Pryor from JLL, who represented the parties involved in the transaction.
Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93