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East End Capital Secures $193.6M Construction Loan For Sunnyside Industrial Building With Canyon Partners

Property Image
FINANCED
$193,580,002

New York

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Industrial216,255 SF
Financed 07/13/2023
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Property Image
FINANCED

East End Capital Secures $193.6M Construction Loan For Sunnyside Industrial Building With Canyon Partners

48-02 48th Ave Woodside, NY 11377, USA

See Similar Deals
Industrial216,255 SF
Financed 07/13/2023
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$895
Total Square Footage:216,255 SF
Transaction Type:Loan

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.

Players

Canyon Partners
Canyon Partners
LENDER
Jonathon Yormak
East End Capital
Jonathon Yormak
5 deals$566.7M volume
LANDLORD

Details

FINANCED
IMAGE: Jonathan K. Yormak DATE: 07/13/2023 ADDRESS: 48-02 48th Avenue MARKET: Sunnyside, Queens ASSET TYPE: Industrial ~ SF: 216,255 LENDER: Canyon Partners - Luis A. Silva LANDLORD: East End Capital (@EastEndCapital) - Jonathan K. Yormak LOAN AMOUNT: $193,580,002 NOTE: East End Capital secured a new construction loan valued at $193.6 million with Canyon Partners, represented by the entity Cred III-Sl Acquisition LLC, for the industrial building (F2) at 48-02 48th Avenue in Sunnyside, Queens.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$193,580,002.00

Monthly NOI$1,290,533.35
Monthly Debt Service$1,223,557.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00