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Maxie Development Refinances Mixed-Use Property At 36-10 West 31st Street With $17.9M Loan
FINANCED
$17,900,000
New York
See Similar DealsMixed-use38,968 SF
Financed 04/18/2025
FINANCED
Maxie Development Refinances Mixed-Use Property At 36-10 West 31st Street With $17.9M Loan
36 10 West 31st Street
See Similar DealsMixed-use38,968 SF
Financed 04/18/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$459
Total Square Footage:38,968 SF
Transaction Type:Loan
The property asset involved in this transaction is a mixed-use building located at 36-10 West 31st Street in Long Island City, Queens. The building has a total square footage of 38,968 and has been refinanced with a loan amount of $17,900,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $17,900,000
- Lender: Ashby Gatens - Berkeley Point Capital
- Landlord: Maxie Development
- Loan Type: Refinance
- Date of Transaction: 04/18/2025
This refinancing deal was facilitated by Berkeley Point Capital, with Ashby Gatens representing the lender. The transaction underscores the activity within the Long Island City market, reflecting the strategic decisions of Maxie Development regarding their property portfolio.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,900,000.00
Monthly NOI$119,333.33
Monthly Debt Service$113,140.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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