Updated Mar 11, 2025
Parkview Financial Reit L.P. Provides $58.15M Loan For Development Site In Astoria
26-01 4th Street, Astoria, NY, USA
$58,150,000
$1,212/SF
Building Size
47,951 SF
Asset Type
Development Site
Closing
Mar 22, 2021
About this deal
AI
A development site located at 26-01 4th Street in Astoria has been involved in a recent closed property transaction. The property, which is situated in the bustling market of Astoria, holds potential for future development.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $58,150,000
- Lender: Parkview Financial Reit L.P.
- Landlord: Sophia Shanfen Zhang
Representing the lending side, Parkview Financial Reit L.P. provided a loan of $58,150,000 for the development site located at 26-01 4th Street in Astoria. The loan will support the future development of the property. On the other side of the transaction, Sophia Shanfen Zhang served as the landlord.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93