Updated Dec 4, 2024
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
About this deal
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.
On the Map
$24,000,000
Development Site
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Players
Long Island City Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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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