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130 South Conduit Avenue, J...

Triangle Equities - Josh Weingarten Secures $87M Loan For Terminal Logistics Center, Jamaica, Queens
FINANCEDIndustrial

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

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.

Players

Andrew Scandalios

JLL

Broker

$12B

vol

68 deals

Broker

Joshua Weingarten

Triangle Equities

Landlord

$219.1M

vol

3 deals

Landlord

Jamaica Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

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