Pi Capital Partners Refinances Elmhurst Condo With $43M Loan From Bank Of China
86-55 Broadway, Queens, New York 11373, United States
$43,000,000
$408/SF
Building Size
105,325 SF
Asset Type
—
Closing
Aug 9, 2022
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93