MSD Partners Provides $24M Loan For Development Site In Long Island City
FINANCED
$24,000,000
+ 1
National
See Similar DealsDevelopment Site
Financed 09/22/2020
FINANCED
MSD Partners Provides $24M Loan For Development Site In Long Island City
24-02 Queens Plaza S, Long Island City, NY 11101, USA
See Similar DealsDevelopment Site
Financed 09/22/2020
+ 1
Summary
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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