Updated Oct 29, 2024
Deutsche Bank Provides $30.5M Loan For Queens Industrial & Development Portfolio
134-07 Northern Boulevard, Flushing (The Flushing Industrial Portfolio)
$30,500,000
$459/SF
Building Size
66,426 SF
Asset Type
Industrial
Closing
Mar 17, 2023
About this deal
AI
The Queens Industrial & Development Portfolio, located at 134-07 Northern Boulevard, 133-16 35th Avenue, 134-65/69 Collins Place, and 132-56/60 34th Avenue in New York City, has recently undergone a closed property transaction. The industrial property spans a total of 66,426 square feet, making it a significant asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $30,500,000
- Lender: Deutsche Bank
- Brokers: Stephen R. Preuss Sr. & Steven Sperandio - Ripco Real Estate
- Loan Type: Acquisition
The loan amount secured for this acquisition was $30,500,000. Deutsche Bank provided the financing for this transaction. Representing the deal were Stephen R. Preuss Sr. and Steven Sperandio from Ripco Real Estate.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93