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Good Fortune Realty Of New York Refinances $7.6M Loan For Commercial Condo In Flushing
FINANCED
$7,600,000
New York
See Similar DealsCondo
Financed 07/31/2024
FINANCED
Good Fortune Realty Of New York Refinances $7.6M Loan For Commercial Condo In Flushing
42-76 Main Street
See Similar DealsCondo
Financed 07/31/2024
Summary
NEW YORK
Asset Type:Condo
Transaction Type:Loan
A 10,536 sq. ft. commercial condo located at 42-76 Main Street in Flushing, Queens was refinanced for $7,600,000. The price translates to $721 per square foot. The refinancing involved NewBank as the new lender, replacing Hirshmark Capital.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $7,600,000
- Lender: Hee Chul Chung - NewBank
- Landlord: Kuan He Wu - Good Fortune Realty of New York
- Previous Lender: Hirshmark Capital
The transaction features Hee Chul Chung representing NewBank in the deal. Kuan He Wu represented Good Fortune Realty of New York, overseeing the refinancing process for the specified commercial asset.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,600,000.00
Monthly NOI$50,666.67
Monthly Debt Service$48,037.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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