Fundamental Advisors Provides $42.75M Refinance Loan For North Corona Hotel
FINANCED
$42,750,000
New York
See Similar DealsHotel87,661 SF
Financed 10/05/2021
FINANCED
Fundamental Advisors Provides $42.75M Refinance Loan For North Corona Hotel
24 Astoria Boulevard, North Corona, NY, USA
See Similar DealsHotel87,661 SF
Financed 10/05/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$487
Total Square Footage:87,661 SF
Transaction Type:Loan
The property involved in the transaction is a hotel located at 112-24 Astoria Boulevard in the North Corona market. The hotel spans a total area of 87,661 square feet.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $42,750,000
- Address: 112-24 Astoria Boulevard
- Market: North Corona
- Asset Type: Hotel
- Square Footage: 87,661
The lender for this transaction is Fundamental Advisors. The loan amount for the refinance is $42,750,000. The landlord involved in the deal is David Marx, who represents Marx Development Group.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,750,000.00
Monthly NOI$285,000.00
Monthly Debt Service$270,209.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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