Shanghai Commercial Bank Provides $14.2M Refinance Loan For Flushing Condo
37-12 Prince Street, Queens, New York 11354, United States
$14,220,000
$710/SF
Building Size
20,006 SF
Asset Type
—
Closing
Sep 18, 2022
AI
A loan has been secured for a condo located at 37-12 Prince Street in Flushing, Queens. The condo spans approximately 20,006 square feet in size.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $14,220,000
- Address: 37-12 Prince Street
- Market: Flushing, Queens
- Lender: Shanghai Commercial Bank
- Landlord: F&T Group - Sunny Chiu
- Loan Type: Refinance
The loan amount secured for the property is $14,220,000 and it is a refinance loan. The lender for this transaction is Shanghai Commercial Bank. The landlord of the property is F&T Group, represented by Sunny Chiu.
Players
New York CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.12%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93