Pi Capital Partners Refinances Elmhurst Condo With $43M Loan From Bank Of China
FINANCED
$43,000,000
New York
See Similar Deals105,325 SF
Financed 08/10/2022
FINANCED
Pi Capital Partners Refinances Elmhurst Condo With $43M Loan From Bank Of China
86-55 Broadway, Queens, New York 11373, United States
See Similar Deals105,325 SF
Financed 08/10/2022
Summary
NEW YORK
Price Per Square Foot:$408
Total Square Footage:105,325 SF
Transaction Type:Loan
The property asset involved in the transaction is a condo located at 86-55 Broadway in the Elmhurst market. The total square footage of the property is 105,325, and it consists of 83 units. The loan amount for this refinance transaction is $43,000,000.
Summary of transation details:
- Property Type: Condo
- Transaction Amount: $43,000,000
- Lender: Bank of China
- Landlord: Pi Capital Partners & Jerry Pi
The deal was represented by Nick Potter and Jack Shaw, who facilitated the transaction on behalf of the involved parties. Their representation was integral to the completion of this loan transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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