Updated Oct 13, 2026
FSA Capital Secures $7 Million Bridge Loan From Ponce Bank For Development Site In Flushing
3627 College Point Boulevard
$7,000,000
$27/SF
Building Size
254,910 SF
Asset Type
Development Site
Closing
Apr 27, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 3627 College Point Boulevard in Flushing. The total building square footage amounts to 254,910, encompassing a total of 254,910 buildable square feet. The bridge loan for this property was structured at $7,000,000, with terms extending for one year plus an additional year.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Address: 3627 College Point Boulevard
- Market: Flushing
- Asset Square Footage: 254,910
- Loan Type: Bridge
- Loan Terms: 1 year plus 1 year
- Lender: Ioannis “Yanni” Kouzilos & Douglas Romero - Ponce Bank
- Landlord: FSA Capital
The key individuals involved in this transaction are Ioannis “Yanni” Kouzilos and Douglas Romero, representing Ponce Bank as lenders. They successfully facilitated the land loan for FSA Capital in approximately one week from start to closing.
On the Map
$7,000,000
$27/SF
Development Site
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Players
Flushing 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93