Updated Oct 16, 2026
Ashok Mehra Of Mehra Properties Refinances Industrial Property In Woodside Queens For $6.8M
55-02 Broadway
$6,800,000
$214/SF
Building Size
31,675 SF
Asset Type
Industrial
Closing
Sep 30, 2026
About this deal
AI
The property involved in this transaction is an industrial asset located at 55-02 Broadway in Woodside, Queens, encompassing a total square footage of 31,675. The loan amount for this property is $6,800,000, related to a refinance transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,800,000
- Loan Type: Refinance
- Address: 55-02 Broadway
- Market: Woodside, Queens
- Lender: ConnectOne Bank
- Landlord: Ashok Mehra - Mehra Properties
This refinancing transaction allowed Mehra Properties to replace $6.5 million in debt that was originally held by Pinco Finance, facilitating improved financial terms for the landlord in managing the industrial property.
On the Map
$6,800,000
$214/SF
Industrial
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Players
Broadway 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
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93