CurbCut Urban Partners Secures $6.3 Million Refinance Loan From Provident Bank For Development Site
38-01 Queens Boulevard
$6,300,000
Building Size
—
Asset Type
Development Site
Closing
Jun 25, 2024
AI
The development site located at 38-01 Queens Boulevard in Sunnyside, Queens, is associated with a refinance loan transaction. The property is under the ownership of CurbCut Urban Partners, who are focusing on a development project at this location.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,300,000
- Lender: Provident Bank
- Lender's Representative: Ryan McAuliffe
- Landlord: CurbCut Urban Partners
- Transaction Date: 06/25/2024
The refinancing loan was secured by CurbCut Urban Partners through their entity CurbCut Queens Blvd LLC. This financial arrangement is a strategic move to support their ongoing development project at the specified address.
Players
Forest Hills 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93