Wells Fargo Provides $364.8M Loan For Development Site In Queens
FINANCED
$364,800,000
New York
See Similar DealsDevelopment Site
Financed 09/15/2022
FINANCED
Wells Fargo Provides $364.8M Loan For Development Site In Queens
43-30 24th Street, Queens, New York 11101, United States
See Similar DealsDevelopment Site
Financed 09/15/2022
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The development site located at 43-30 & 43-16 24th Street in Queens has recently closed a loan transaction. The loan, amounting to $364,800,000, was provided by Wells Fargo. The property, owned by Carmel Partners and represented by Ron Zeff, is a prime asset for development in the Queens market.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $364,800,000
- Lender: Wells Fargo
- Landlord: Carmel Partners - Ron Zeff
- Address: 43-30 & 43-16 24th Street
- Market: Queens
The loan transaction was facilitated by Wells Fargo, a prominent lending institution. Carmel Partners, represented by Ron Zeff, acted as the landlord in the deal. This transaction marks a significant investment in the development site, showcasing the potential for growth in the Queens market.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$364,800,000.00
Monthly NOI$2,432,000.00
Monthly Debt Service$2,305,784.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions