Updated Oct 29, 2024
Axos Bank Provides $34.6M Construction Loan For Industrial Property In Elmhurst, Queens
52-35 74th Street
$34,587,001
$1,235,250/SF
Building Size
28 SF
Asset Type
Industrial
Closing
Jul 28, 2022
About this deal
AI
An industrial property located at 52-35 74th Street in Elmhurst, Queens has been involved in a recent closed transaction in the market. The property spans approximately 28,430 square feet and is owned by SNL Storage, represented by Marc Sharinn. The transaction took place on July 28, 2022, with Axos Bank serving as the lender.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $34,587,001
- Address: 52-35 74th Street, Elmhurst, Queens
- Market: Elmhurst, Queens
- Asset Type: Industrial
- Square Footage: 28,430
- Lender: Axos Bank
- Landlord: SNL Storage - Marc Sharinn
- Loan Type: Construction
In this deal, Axos Bank provided a construction loan of $34,587,001 to facilitate the transaction. SNL Storage, represented by Marc Sharinn, serves as the landlord of the industrial property.
On the Map
$34,587,001
$1,235,250/SF
Industrial
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Players
Elmhurst 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93