ACORE Provides $69.12M Bridge Loan For Ideal Building In Jamaica, Queens
184-10 Jamaica Avenue
$69,125,000
Building Size
—
Asset Type
Industrial
Closing
Jun 7, 2024
AI
The Ideal Building located at 184-10/60 Jamaica Avenue in Jamaica, Queens, was the subject of a recent transaction involving a bridge loan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $69,125,000
- Lender: ACORE - Eric Ramirez, Corey Goodstein & Robert Hill
- Landlord: The KABR Group - Adam Altman, Michael Goldstein & Kenneth Pasternak
- Brokers: Gideon Gil & Dale Braverman - Cushman & Wakefield
The financing was provided by ACORE, with representatives Eric Ramirez, Corey Goodstein, and Robert Hill involved in the loan transaction. On the other side, The KABR Group, represented by Adam Altman, Michael Goldstein, and Kenneth Pasternak, acted as the landlord in this deal.
Players
Hollis 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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93