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30-02 Whitestone Expressway

Evan Petracca & Brett Goldman Refinance Industrial Development Site In College Point, Queens With $50M Loan From Centennial Bank
FINANCEDDevelopment Site

Evan Petracca & Brett Goldman Refinance Industrial Development Site In College Point, Queens With $50M Loan From Centennial Bank

30-02 Whitestone Expressway

$50,000,000

$117/SF

Building Size

425,000 SF

Asset Type

Development Site

Closing

Dec 18, 2023

AI

An industrial development site located at 30-02 Whitestone Expressway in College Point, Queens has recently undergone a refinancing transaction. The property spans a total of 425,000 square feet and is owned by Evan Petracca and Brett Goldman of Triangle Equities. The site is situated in the bustling market of College Point, Queens.

Summary of transaction details

  • Property Type: Industrial Development Site
  • Loan Amount: $50,000,000
  • Loan Type: Refinance
  • Lender: Centennial Bank

This financing deal was facilitated by the brokers Geoff Goldstein, Rob Hinckley, and Tyler Peck, who represented the owners Evan Petracca and Brett Goldman of Triangle Equities. JLL played a pivotal role in successfully securing the refinancing loan for this industrial development site in College Point, Queens.

Players

Geoff Goldstein

JLL

Broker

$8B

vol

56 deals

Broker
Centennial Bank
Centennial BankLender

Evan Petracca

Triangle Equities

Landlord

$82M

vol

2 deals

Landlord
Triangle Equities
Triangle EquitiesLandlord

White Stone 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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93