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141-57 Northern Blvd, Flush...

Updated Feb 16, 2024

Northwind Group's Loan Secures $13.5M For Flushing Development Site - Ran Eliasaf's Northwind Group Provides Financing
FINANCEDDevelopment Site

Northwind Group's Loan Secures $13.5M For Flushing Development Site - Ran Eliasaf's Northwind Group Provides Financing

141-57 Northern Blvd, Flushing, NY, USA

$13,500,000

$123/SF

Building Size

109,333 SF

Asset Type

Development Site

Closing

Jan 27, 2021

About this deal

AI

A development site located at 141-57 Northern Blvd in Flushing, Queens has been involved in a closed transaction. The property has an estimated buildable square footage (BSF) of 109,333. The deal was facilitated by Millennium Estates, acting as the broker.

Summary of Transaction Details:

  • Property Type: Development Site
  • Transaction Amount: $13,500,000
  • Market: Flushing, Queens
  • Lender: Northwind Group - Ran Eliasaf
  • Landlord: Oak Capitals - Elias Abubeker & East West Construction - Kenny Liu

The lender for this transaction is the Northwind Group with Ran Eliasaf representing them. The landlords involved are Oak Capitals, represented by Elias Abubeker, and East West Construction, represented by Kenny Liu.

For more information or additional opportunities related to this transaction, you can contact Northwind Group at [email protected].

Players

Northwind Group
Northwind GroupLender

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $123 per square foot on a published $13.5M for 109,333 square feet (2021).

Browse New York development site loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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