Jasper Wu And Michael Wang Secure $6.375M Acquisition Loan For Long Island City Development Site
FINANCED
$6,375,000
+ 2
New York
See Similar DealsDevelopment Site
Financed 09/18/2025
FINANCED
Jasper Wu And Michael Wang Secure $6.375M Acquisition Loan For Long Island City Development Site
46 34 11th Street & 10 54 46th Road
See Similar DealsDevelopment Site
Financed 09/18/2025
+ 2
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The asset involved in this transaction is a development site located at 46-34 11th Street and 10-54 46th Road in Long Island City. The loan amount for the acquisition is $6,375,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,375,000
- Lender: Angela Mulder - Pacific National Bank
- Landlord: Jasper Wu & Michael Wang
- Landlord's Representative: Morris Betesh, Omar Ferreira & Jacob Petrovic - Arrow Real Estate Advisors
- Loan Type: Acquisition
Key individuals involved in this transaction include Angela Mulder representing the lending side, and the landlords Jasper Wu and Michael Wang, who are entering into this deal for the development site. The representation for the landlords is provided by Morris Betesh, Omar Ferreira, and Jacob Petrovic from Arrow Real Estate Advisors.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,375,000.00
Monthly NOI$42,500.00
Monthly Debt Service$40,294.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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