MSD Partners LP Provides $165M Bridge Loan For Development Site In Long Island City
FINANCED
$165,000,000
New York
See Similar DealsDevelopment Site1,200,000 SF
Financed 03/05/2022
FINANCED
MSD Partners LP Provides $165M Bridge Loan For Development Site In Long Island City
44-02 Vernon Boulevard, Queens, New York 11101, United States
See Similar DealsDevelopment Site1,200,000 SF
Financed 03/05/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$137
Total Square Footage:1,200,000 SF
Transaction Type:Loan
A development site located at 44-02 Vernon Boulevard in Long Island City has been involved in a closed transaction, as reported on Instagram. This development site spans an area of 1,200,000 square feet and is situated in the Long Island City market.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $165,000,000
- Date: 03/05/2022
The loan for this transaction was provided by MSD Partners LP, and the loan type is Bridge. The brokers involved in this deal are Adam Hakim & James Murad from Meridian Capital Group.
Adam Hakim & James Murad from Meridian Capital Group represented the parties involved in this transaction as the brokers.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$165,000,000.00
Monthly NOI$1,100,000.00
Monthly Debt Service$1,042,912.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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