Updated Mar 10, 2025
Integritas Capital Provides $18M Refinance Loan To New Empire Corp For Development Site In Woodside
58 01 Queens Boulevard
$20,000,000
$153/SF
Building Size
130,000 SF
Asset Type
Development Site
Closing
Feb 21, 2025
About this deal
AI
The property asset involved is a development site located at 58-01 Queens Boulevard, Woodside, comprising a total area of 130,000 square feet. The loan amount facilitated for this property is $18,000,000, with the loan type classified as refinance.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Lender: Integritas Capital
- Lender's Representative: Stephen Palmese
- Landlord: New Empire Corp
- Broker: Keith Reich
- Broker's Agency: MSCO Capital Advisors
This transaction reflects a collaboration between several key figures in the financial and real estate sectors. The lender involved, Integritas Capital, represented by Stephen Palmese, has facilitated this refinance arrangement. Keith Reich from MSCO Capital Advisors acted as the broker for New Empire Corp in this deal.
Players
Woodside 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93