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Morris Schlager Secures $22.5M Refinance Loan For Industrial Building In Maspeth
FINANCED
$22,500,000
New York
See Similar DealsIndustrial
Financed 03/29/2024
FINANCED
Morris Schlager Secures $22.5M Refinance Loan For Industrial Building In Maspeth
57-48 49th Street
See Similar DealsIndustrial
Financed 03/29/2024
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
An industrial building located at 57-48 49th Street in Maspeth, Queens, was the subject of a $22.5 million refinance loan. The loan was secured from Israel Discount Bankby J&J Farms Creamery, previously financed by Alma Bank.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22,500,000
- Address: 57-48 49th Street
- Market: Maspeth, Queens
- Lender: Mitchell Barnett & Ender Cetin - Israel Discount Bank
- Landlord: Morris Schlager - J&J Farms Creamery
- Loan Type: Refinance
Morris Schlager represented J&J Farms Creamery in securing the refinance loan from Israel Discount Bank, facilitating the transaction relating to the industrial property in Maspeth, Queens.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,500,000.00
Monthly NOI$150,000.00
Monthly Debt Service$142,215.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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