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

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FINANCED
$35,000,000

New York

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Condo434,433 SF
Financed 02/14/2025
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Property Image
FINANCED

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

See Similar Deals
Condo434,433 SF
Financed 02/14/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Condo
Price Per Square Foot:$80
Total Square Footage:434,433 SF
Transaction Type:Loan

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
Matthew Whalen
3 deals$107.4M volume
LANDLORD

Details

FINANCED
IMAGE: Matthew Whalen DATE: 02/14/2025 ADDRESS: 111 01 Queens Boulevard, 108 36 Queens Boulevard & 72 09 Northern Boulevard MARKET: Forest Hills & Jackson Heights, Queens ASSET TYPE: Condo, Mixed-use & Retail ~ BSF: 160,171 ~ SF: 144,811 LENDER: Morgan Stanley (@Morgan.Stanley) LANDLORD: Matthew Whalen - Cord Meyer Development LOAN AMOUNT: $35,000,000 NOTE: Cord Meyer Development secured a $35M loan from Morgan Stanley for eight properties across Queens, including office, mixed-use, and retail buildings.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,000,000.00

Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00