Centennial Bank Provides $101M Construction Loan For Flushing Condominium
FINANCED
$101,000,000
New York
See Similar Deals575,724 SF
Financed 08/20/2020
FINANCED
Centennial Bank Provides $101M Construction Loan For Flushing Condominium
13102 40th Road, Flushing, NY 11354
See Similar Deals575,724 SF
Financed 08/20/2020
Summary
NEW YORK
Price Per Square Foot:$175
Total Square Footage:575,724 SF
Transaction Type:Loan
A construction loan has been secured for a condominium property located at 131-02 40th Road in Flushing. The loan amount is $101,000,000 and it was provided by Centennial Bank. The property is owned by Jade Century Properties.
Summary of transaction details:
- Property Type: Condominium
- Transaction Amount: $101,000,000
- Address: 131-02 40th Road
- Market: Flushing
The loan was facilitated by Michael Lee from KSRealEstateAdvisors, acting as the broker representing Jade Century Properties in the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$101,000,000.00
Monthly NOI$673,333.33
Monthly Debt Service$638,388.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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