Linzhong Zhuo Of Sunlight Development Secures $20 Million Refinancing Loan From Amerasia Bank In Flushing
38-18 Northern Boulevard
$20,000,000
Building Size
—
Asset Type
Condo
Closing
Jun 17, 2026
About this deal
AI
The transaction involves two commercial condominium units and a garage condo situated at 38-18 Northern Boulevard in Flushing, Queens. The asset was refinanced with a loan amount of $20,000,000. The property falls under the asset type of condo. The financing was arranged to enhance the existing mortgage conditions on the property.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $20,000,000
- Lender: Amerasia Bank
- Landlord: Linzhong Zhuo - Sunlight Development
- Loan Type: Refinance
- Date: 06/17/2026
Linzhong Zhuo represents Sunlight Development in this refinance transaction, and the loan was secured through Northern Garage Aa LLC. This financial arrangement reflects the strategic move by the landlord to optimize their property financing structure.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93