Updated Mar 11, 2025
Flushing Bank Provides $1.6M Refinance Loan For Industrial Property In Long Island City
43-18 Van Dam Street
$1,610,000
Building Size
—
Asset Type
Industrial
Closing
Nov 30, 2023
About this deal
AI
The industrial property located at 43-18 Van Dam Street in Long Island City has undergone a refinancing transaction. The property, situated in a market known for its industrial activity, has been involved in a closed deal, with a loan provided by Flushing Bank.
Summary of transaction details:
- Property Type: Industrial
- Loan Amount: $1,610,000
- Loan Type: Refinance
- Loan Terms: 10-year term, 25-year amortization
Matt Buggenhagen, Jason Labriola, and Anthony Colicino of Meridian Capital Group represented the parties involved in the transaction as brokers. Their expertise and assistance were vital in facilitating the refinancing deal for the industrial property on Van Dam Street in Long Island City.
On the Map
$1,610,000
Industrial
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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
9.85%
Cash-on-Cash
-2.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93