Jin Yu Chen Secures $18M Loan For Flushing Condo From S3 Capital Partners
142-28 38th Avenue, Flushing, NY, USA
$18,000,000
$363/SF
Building Size
49,471 SF
Asset Type
—
Closing
Jan 21, 2019
About this deal
AI
A condo located at 142-28 38th Ave in Flushing was involved in a recent transaction. The property, owned by Jin Yu Chen, received a loan of $18,000,000 from S3 Capital Partners. The loan was originated by Steven Jemal of S3 Capital Partners. The loan amount represents the financial support provided for this transaction. The condo spans across an area of 49,471 square feet, marking its size within the market of Flushing.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $18,000,000
- Address: 142-28 38th Ave
- Market: Flushing
- Owner: Jin Yu Chen
- Lender: S3 Capital Partners
- Originator: Steven Jemal - [email protected]
- Broker: Adrian Edery - Paradigm Commercial Real Estate
- SF: 49,471
Adrian Edery from Paradigm Commercial Real Estate represented the deal as the broker in this transaction. There were no additional details available regarding brokers or representatives involved in this deal.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93