Updated Feb 22, 2026
$9.6 Million Loan Secured By Israel Discount Bank For Development Site In Flushing
144 32 Northern Boulevard
$9,600,000
Building Size
—
Asset Type
Development Site
Closing
Dec 9, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 144-32 Northern Boulevard in Flushing. The loan amount secured for this acquisition is $9,600,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $9,600,000
- Lender: Israel Discount Bank
- Landlord's Representative: Morris Betesh, Omar Ferreira, Jacob Petrovic & Jonah Schultz - Arrow Real Estate Advisors
The key individuals facilitating this deal include Morris Betesh, Omar Ferreira, Jacob Petrovic, and Jonah Schultz, who represent the landlord through Arrow Real Estate Advisors. They collectively manage the acquisition process with the lender, Israel Discount Bank, for this property.
On the Map
$9,600,000
Development Site
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Players
Flushing Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93