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30-36 Northern Boulevard, L...

Updated Dec 21, 2023

Clutter Secures $37.8M Refinance Loan For Long Island City Storage Facility
FINANCED

Clutter Secures $37.8M Refinance Loan For Long Island City Storage Facility

30-36 Northern Boulevard, Long Island City, NY 11101, USA

$37,818,995

$284/SF

Building Size

133,152 SF

Asset Type

Closing

Sep 9, 2021

About this deal

AI

30-36 Northern Boulevard in Long Island City has been refinanced with a loan amount of $37,818,995. The property is a storage facility with a total area of 133,152 square feet. The loan was provided by Michael Forman from FS Investments, while Ari Mir lutter is the landlord.

Summary of transaction details

  • Property Type: Storage
  • Transaction Amount: $37,818,995
  • Address: 30-36 Northern Boulevard
  • Market: Long Island City
  • Loan Type: Refinance
  • Lender: Michael Forman - FS Investments
  • Landlord: Ari Mir lutter

In addition to its storage services, including picking up and dropping off customer's belongings, Clutter recently received a $200 million funding round led by Softbank in 2019.

Players

Long Island City CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Deal FAQ

About $284 per square foot on a published $37.8M for 133,152 square feet (2021).

Browse New York loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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