Updated Sep 11, 2026
Meridian Capital Group Brokers $40M Acquisition Loan For Development Site At 93-30 93rd Street In Queens
93-90 93rd St, Queens, NY 11374
$40,000,000
Building Size
—
Asset Type
Development Site
Closing
May 19, 2023
About this deal
AI
The development site located at 93-30 93rd Street in Queens, New York City has undergone a closed transaction. The property has an address of 93-30 93rd Street and is situated in Queens, New York City. It is categorized as a development site and was involved in an acquisition deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,000,000
The lender involved in this transaction was Maxim Capital, represented by Adam Glick and Josh Greene. The loan amount provided by Maxim Capital for the acquisition deal was $40,000,000. The landlord, United Construction & Development Group, represented by Chris Xu, participated in the transaction. The brokers involved in the deal were Morris Betesh and Omar Ferreira from Meridian Capital Group.
On the Map
$40,000,000
Development Site
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Players
New York 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93