Meridian Capital Group Brokers $40M Acquisition Loan For Development Site At 93-30 93rd Street In Queens
FINANCED
$40,000,000
New York
See Similar DealsDevelopment Site
Financed 05/19/2023
FINANCED
Meridian Capital Group Brokers $40M Acquisition Loan For Development Site At 93-30 93rd Street In Queens
93-90 93rd St, Queens, NY 11374
See Similar DealsDevelopment Site
Financed 05/19/2023
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$40,000,000.00
Monthly NOI$266,666.67
Monthly Debt Service$252,827.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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