Updated Oct 29, 2024
East End Capital Secures $193.6M Construction Loan For Sunnyside Industrial Building With Canyon Partners
48-02 48th Ave Woodside, NY 11377, USA
$193,580,002
$895/SF
Building Size
216,255 SF
Asset Type
Industrial
Closing
Jul 13, 2023
About this deal
AI
East End Capital has secured a new construction loan worth $193.6 million for the industrial building (F2) located at 48-02 48th Avenue in Sunnyside, Queens. The loan was obtained from Canyon Partners, represented by the entity Cred III-Sl Acquisition LLC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $193,580,002
- Square Footage: 216,255
- Address: 48-02 48th Avenue, Sunnyside, Queens
- Lender: Canyon Partners (represented by Luis A. Silva)
- Landlord: East End Capital (represented by Jonathan K. Yormak)
The loan was secured for the industrial building at 48-02 48th Avenue in Sunnyside, Queens. Canyon Partners, represented by Luis A. Silva, provided a loan amount of $193,580,002 to East End Capital, represented by Jonathan K. Yormak. This loan will support the new construction project for the industrial building.
On the Map
$193,580,002
$895/SF
Industrial
View full map
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit Jonathon Yormak to view all their deals.
Browse New York industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93