Updated Oct 28, 2024
United Of Omaha Life Insurance Lends $20M Loan For Industrial Property In Maspeth
25 Maspeth Avenue, Maspeth, Queens, NY, USA
$20,000,000
$362/SF
Building Size
55,120 SF
Asset Type
Industrial
Closing
Mar 16, 2021
About this deal
AI
The industrial property located at 49-25 Maspeth Avenue in Maspeth has recently undergone a loan transaction. The loan amount for this transaction was $20,000,000, and the property spans across a total area of 55,120 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Address: 49-25 Maspeth Avenue, Maspeth
- Market: Maspeth
- Lender: United of Omaha Life Insurance Company
- Landlord: Galasso Trucking
United of Omaha Life Insurance Company provided the loan for this transaction, supporting the acquisition or financing needs of the property. Galasso Trucking, the landlord, facilitated the deal as the property owner.
Players
New York 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93