Investors Bank Provides $24.5M Loan For Elmhurst Hotel At 79-00 Queens Blvd
FINANCED
$24,500,000
New York
See Similar DealsHotel88,000 SF
Financed 08/31/2021
FINANCED
Investors Bank Provides $24.5M Loan For Elmhurst Hotel At 79-00 Queens Blvd
79-00 Queens Boulevard, Elmhurst, Queens, NY, USA
See Similar DealsHotel88,000 SF
Financed 08/31/2021
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$278
Total Square Footage:88,000 SF
Transaction Type:Loan
The hotel located at 79-00 Queens Boulevard in Elmhurst has been involved in a recent loan transaction. The property spans 88,000 square feet and comprises 215 units. The asset type is a hotel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $24,500,000
- Market: Elmhurst
- Address: 79-00 Queens Boulevard
- Square Footage: 88,000
- Number of Units: 215
Investors Bank provided a loan of $24,500,000 for this property. The landlord involved in the transaction is David Levitan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,500,000.00
Monthly NOI$163,333.33
Monthly Debt Service$154,856.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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