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Chris Jiashu Xu Secures $25 Million Refinancing Loan For Development Site At 131-01 Roosevelt Avenue
FINANCED
$25,000,000
New York
See Similar DealsDevelopment Site
Financed 12/03/2024
FINANCED
Chris Jiashu Xu Secures $25 Million Refinancing Loan For Development Site At 131-01 Roosevelt Avenue
131-01 Roosevelt Avenue
See Similar DealsDevelopment Site
Financed 12/03/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The development site located at 131-01 Roosevelt Avenue in Flushing, Queens offers a buildable square footage of 214,928 square feet. This site has recently secured a refinancing loan amounting to $25 million from New Era Life Insurance Company.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,000,000
- Lender: New Era Life Insurance
- Landlord: Chris Jiashu Xu - United Construction & Development Group
- Loan Type: Refinance
Chris Jiashu Xu, representing United Construction & Development Group, facilitated this refinancing through New Janet De, LLC, establishing the transaction with New Era Life Insurance Company for the specified development project.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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