Updated Oct 12, 2026
Sunlight Development Group & Ken Huang Refinance Flushing Condos For $24.6M With ICross Capital
134-16 Northern Boulevard Flushing, New York 11354, USA
$24,600,000
Units
69
Asset Type
Development Site
Closing
Jun 20, 2023
About this deal
AI
Sunlight Development Group and Ken Huang have refinanced their 69-unit condominium project in Flushing, Queens. The property, located at 134-16 Northern Boulevard, has been refinanced with iCross Capital for a total loan amount of $24.6 million. The transaction took place on June 20, 2023.
Summary of transaction details:
- Property Type: Development Site
- Loan Amount: $24,600,000
- Lender: iCross Capital - Lily Guo
- Landlord: Sunlight Development Group & Ken Huang
iCross Capital, represented by Lily Guo, provided the refinancing for the 69-unit condominium project in Flushing, Queens. Sunlight Development Group and Ken Huang successfully closed the deal on June 20, 2023.
On the Map
$24,600,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93