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RJ Capital Holdings Refinances Development Site In Forest Hills For $18M Loan From Valley National Bank

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FINANCED
$18,000,000

New York

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Development Site161,910 SF
Financed 08/02/2022
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Property Image
FINANCED

RJ Capital Holdings Refinances Development Site In Forest Hills For $18M Loan From Valley National Bank

70-28 Grand Central Parkway, Queens, New York 11375, United States

See Similar Deals
Development Site161,910 SF
Financed 08/02/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$111
Total Square Footage:161,910 SF
Transaction Type:Loan

A development site located at 70-28 Grand Central Parkway in Forest Hills has been refinanced for $18,000,000. The property, with a total square footage (BSF) of 161,910, was previously owned by RJ Capital Holdings.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $18,000,000
  • Address: 70-28 Grand Central Parkway, Forest Hills
  • Market: Forest Hills
  • BSF: 161,910
  • Lender: Valley National Bank
  • Landlord: RJ Capital Holdings
  • Loan Type: Refinance

Valley National Bank provided the refinancing for this development site. RJ Capital Holdings, the previous owner, agreed to the loan amount of $18,000,000. The property is situated in the Forest Hills market and spans a total of 161,910 square feet.

Players

Valley National Bank
Valley National Bank
LENDER
RJ Capital Holdings
RJ Capital Holdings
LANDLORD

Details

FINANCED
IMAGE: 08/02/2022 ADDRESS: 70-28 Grand Central Parkway MARKET: Forest Hills ASSET TYPE: Development Site ~ BSF: 161,910 LENDER: Valley National Bank LANDLORD: RJ Capital Holdings LOAN AMOUNT: $18,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00