Updated Dec 4, 2024
Ben Klugmann Of Meridian Capital Group Secures $2 Million Acquisition Loan For Industrial Asset In Ridgewood
88-65 76 Avenue
$2,000,000
$119/SF
Building Size
16,700 SF
Asset Type
Industrial
Closing
Oct 8, 2024
About this deal
AI
The property asset involved in this transaction is an industrial facility located at 88-65 76 Avenue, Ridgewood. The square footage of the asset is 16,700, and the loan amount related to the acquisition of this property is $2,000,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,000,000
- Address: 88-65 76 Avenue
- Market: Ridgewood
- Broker: Ben Klugmann - Meridian Capital Group
- Loan Type: Acquisition
The key individual representing the transaction is Ben Klugmann, who operates under Meridian Capital Group. His involvement underscores the facilitative role of the brokerage in this property acquisition deal.
On the Map
$2,000,000
$119/SF
Industrial
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Queens 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93