Triangle Equities - Josh Weingarten Secures $87M Loan For Terminal Logistics Center, Jamaica, Queens
FINANCED
$87,000,000
+ 2
New York
See Similar DealsIndustrial292,683 SF
Financed 01/22/2020
FINANCED
Triangle Equities - Josh Weingarten Secures $87M Loan For Terminal Logistics Center, Jamaica, Queens
130 South Conduit Avenue, Jamaica, NY, USA
See Similar DealsIndustrial292,683 SF
Financed 01/22/2020
+ 2
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$297
Total Square Footage:292,683 SF
Transaction Type:Loan
The Terminal Logistics Center located at 130-02 South Conduit Avenue in Jamaica, Queens has recently been involved in a closed property transaction. This industrial property, with a total area of 292,683 square feet, was the subject of the deal.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $87,000,000
- Address: 130-02 South Conduit Avenue
- Market: Jamaica, Queens
The lending institution involved in this transaction was CIT. The landlord of the Terminal Logistics Center is Triangle Equities, represented by Josh Weingarten. The brokers who facilitated the deal were Geoff Goldstein, Rob Hinckley, Andrew Scandalious, and Tyler Peck from JLL.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$87,000,000.00
Monthly NOI$580,000.00
Monthly Debt Service$549,899.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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