Updated Nov 17, 2023
Dime Community Bank Provides $35.1M Refinance Loan For Industrial Property In Jamaica, Queens
170-01 Douglas Avenue, Queens, New York 11433, United States
$35,100,000
$2,064,705/SF
Building Size
17 SF
Asset Type
Industrial
Closing
Jan 11, 2022
About this deal
AI
An industrial property located at 170-01 Douglas Avenue in Jamaica, Queens secured a refinancing loan from Dime Community Bank. The property spans a total of 17,550 square feet. Eric Sternberg is the landlord of this asset.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $35,100,000
- Address: 170-01 Douglas Avenue
- Market: Jamaica, Queens
- Lender: Dime Community Bank - Joseph Grunwald
- Landlord: Eric Sternberg
Joseph Grunwald, representing Dime Community Bank, played a key role in facilitating the refinancing loan for the industrial property at 170-01 Douglas Avenue. This transaction, valued at $35,100,000, highlights the partnership between the lender and the landlord, Eric Sternberg.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93