Updated Apr 3, 2025
First Citizens Bank Provides $33.5M Construction Loan For Woodside Development Site
43-13 52nd Street, Queens, New York 11377, United States
$33,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 4, 2022
About this deal
AI
A development site located at 43-13 to 43-21 52nd Street in Woodside has been involved in a recent closed transaction. This development site, with a market value in the Woodside area, was the subject of a loan transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $33,500,000
- Lender: First Citizens Bank
- Landlord: ZD Jasper Realty
- Loan Type: Construction
First Citizens Bank provided a construction loan of $33,500,000 for the development site located at 43-13 to 43-21 52nd Street in Woodside. ZD Jasper Realty acted as the landlord in this transaction.
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
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93