Sapphire Holdings Group Secures $8.8M Loan For Industrial Building In Queens Village, Queens
217-44 98th Ave Queens Village, NY 11429, USA
$8,750,000
$130/SF
Building Size
66,978 SF
Asset Type
Industrial
Closing
Jul 14, 2023
AI
Sapphire Holdings Group, operating as 217-44 Realty LLC, has secured an $8.8 million loan from Flushing Bank for an industrial building located at 217-44 98th Avenue in Queens Village, Queens. The property is an industrial space with a size of 66,978 square feet. The transaction took place on July 14, 2023.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,750,000
- Address: 217-44 98th Avenue, Queens Village
- Market: Queens Village
The loan was provided by Flushing Bank, a notable lender in the industry. The landlord in this transaction is Sapphire Holdings Group, represented by Jack Bick. The loan amount of $8,750,000 will support the operations and development of the industrial building owned by Sapphire Holdings Group.
Players
New York 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
1.81%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93