John Lagoudis Of Aegean Commercial Capital Closes $6.5M Refinance Loan For Min Wu In Long Island City
43-10 21st Street
$6,500,000
$147/SF
Building Size
44,000 SF
Asset Type
Industrial
Closing
Mar 4, 2026
AI
The asset involved in this transaction is an industrial property located at 43-10 21st Street in Long Island City, comprising a total of 44,000 square feet. The loan amount secured for this refinance transaction is $6,500,000, with terms set at 5+5+5 over 30 years.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $6,500,000
- Loan Type: Refinance
- Loan Terms: 5+5+5 30 Year
- Lender: Maspeth Federal Savings
- Landlord: Min Wu
- Broker: John Lagoudis - Aegean Commercial Capital
John Lagoudis, representing Aegean Commercial Capital, facilitated a quick closing within 90 days for this refinancing deal. The terms include no recourse and no prepayment penalty, with a specified interest rate of 6.125%.
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93