Updated Dec 4, 2024
Citibank Provides $40M Refinance Loan For Industrial Property In Long Island City, Queens
32-07 Queens Boulevard, Long Island City, NY, USA
$40,000,000
$133/SF
Building Size
300,000 SF
Asset Type
Industrial
Closing
Sep 21, 2021
About this deal
AI
The industrial property located at 32-07 Queens Boulevard in Long Island City has been refinanced with a loan amount of $40,000,000. The property spans approximately 300,000 square feet and is owned by Stellar Management.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $40,000,000
- Address: 32-07 Queens Boulevard
- Market: Long Island City
citibank''>Citibank provided the loan for the refinancing of the property. Adam Roman and Laurence Gluck were involved in the transaction as representatives for the deal. The landlord of the property, Stellar Management, worked with their representative to secure the loan.
Players
Long Island City 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93