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95-08 150th Street

Lightstone Group Loans $9M For Industrial Properties In Jamaica, Queens
FINANCEDIndustrial

Lightstone Group Loans $9M For Industrial Properties In Jamaica, Queens

95-08 150th Street

$9,000,000

Building Size

Asset Type

Industrial

Closing

Jul 8, 2020

AI

An industrial property located at 95-08 150th Street, 95-12 149th Street, and 95-25 150th Street in Jamaica, Queens, was recently involved in a closed transaction. The property is situated in the market of Jamaica, Queens and was acquired by DL Development & Radix Capital.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $9,000,000
  • Lender: @LightstoneGroup
  • Landlord: DL Development & Radix Capital
  • Brokers: Adam Hakim & James Murad - Meridian Capital Group

The loan for this transaction was provided by the Lightstone Group. The brokers representing the deal were Adam Hakim and James Murad from Meridian Capital Group.

Players

James Murad

Ripco

Broker

$3B

vol

63 deals

Broker
Lightstone Group
Lightstone GroupLender

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

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93