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Sunlight Development Group & Ken Huang Refinance Flushing Condos For $24.6M With ICross Capital
FINANCED
$24,600,000
New York
See Similar DealsDevelopment Site
Financed 06/20/2023
FINANCED
Sunlight Development Group & Ken Huang Refinance Flushing Condos For $24.6M With ICross Capital
134-16 Northern Boulevard Flushing, New York 11354, USA
See Similar DealsDevelopment Site
Financed 06/20/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,600,000.00
Monthly NOI$164,000.00
Monthly Debt Service$155,488.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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