OceanFirst Bank Provides $10M Refinance Loan For Industrial Property In Maspeth
Flushing Avenue
$10,000,000
$107/SF
Building Size
93,000 SF
Asset Type
Industrial
Closing
Nov 10, 2022
AI
An industrial property located on Flushing Avenue in Maspeth has recently undergone a loan transaction. The property spans over 93,000 square feet and falls under the industrial asset type category.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Lender: OceanFirst Bank
- Brokers: Morris Diamant & David Liechtung - Meridian Capital Group
The loan amount for this transaction was $10,000,000, and it was a refinancing loan. OceanFirst Bank served as the lender for this deal. Morris Diamant & David Liechtung from Meridian Capital Group acted as the brokers representing the parties involved in the transaction.
Players
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93