Updated Oct 29, 2024
Triangle Equities - Josh Weingarten Secures $87M Loan For Terminal Logistics Center, Jamaica, Queens
130 South Conduit Avenue, Jamaica, NY, USA
$87,000,000
$297/SF
Building Size
292,683 SF
Asset Type
Industrial
Closing
Jan 21, 2020
About this deal
AI
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.
On the Map
$87,000,000
$297/SF
Industrial
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Players
Jamaica Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93