Fundamental Advisors Provides $42.75M Refinance Loan For North Corona Hotel
24 Astoria Boulevard, North Corona, NY, USA
$42,750,000
$487/SF
Building Size
87,661 SF
Asset Type
Hotel
Closing
Oct 4, 2021
AI
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.
Players
Astoria Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93