Lightstone Capital Markets Provides $13.4M Loan For Development Site In Jamaica, Queens
FINANCED
$13,400,000
+ 1
New York
See Similar DealsDevelopment Site237,000 SF
Financed 02/05/2019
FINANCED
Lightstone Capital Markets Provides $13.4M Loan For Development Site In Jamaica, Queens
89-35 162nd Street, Jamaica, NY 11432
See Similar DealsDevelopment Site237,000 SF
Financed 02/05/2019
+ 1
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$56
Total Square Footage:237,000 SF
Transaction Type:Loan
An interest-only loan in the amount of $13,400,000 was secured for a development site located at 89-25 162nd Street and 89-26 162nd Street in Jamaica, Queens. The property has a buildable square footage of 237,000 and is owned by Andrew Wu. The loan was provided by Lightstone Capital Markets.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $13,400,000
- Address: 89-25 162nd Street, 89-26 162nd Street
- Market: Jamaica, Queens
- Buildable Square Footage: 237,000
- Lender: Lightstone Capital Markets
- Landlord: Andrew Wu
The deal was facilitated by brokers Preston Flammang, Jessica Ke, Anthony D’Amelio, and Stephen Preuss.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,400,000.00
Monthly NOI$89,333.33
Monthly Debt Service$84,697.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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