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111 01 Queens Boulevard

Matthew Whalen Of Cord Meyer Development Secures $35M Loan From Morgan Stanley For Eight Properties In Queens
FINANCEDCondo

Matthew Whalen Of Cord Meyer Development Secures $35M Loan From Morgan Stanley For Eight Properties In Queens

111 01 Queens Boulevard, 108 36 Queens Boulevard & 72 09 Northern Boulevard

$35,000,000

$80/SF

Building Size

434,433 SF

Asset Type

Condo

Closing

Feb 14, 2025

AI

The assets involved in the transaction include eight properties located at 111 01 Queens Boulevard, 108 36 Queens Boulevard, and 72 09 Northern Boulevard in the Forest Hills & Jackson Heights market. These properties encompass various types including condo, mixed-use, and retail spaces. The total built square footage is 160,171 with a usable square footage of 144,811.

Summary of transaction details:

  • Property Type: Condo, Mixed-use & Retail
  • Transaction Amount: $35,000,000
  • Lender: Morgan Stanley
  • Landlord: Matthew Whalen - Cord Meyer Development

Cord Meyer Development secured the loan from Morgan Stanley, facilitating a notable investment across Queens. Matthew Whalen represents Cord Meyer Development in this transaction, highlighting the involvement of key players in the financing and management of these properties.

Players

Morgan Stanley
Morgan Stanley Lender

Matthew Whalen

Landlord

$107.4M

vol

3 deals

Landlord

Forest Hills Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93