Sterling Bank Provides $9M Refinance Loan For Industrial Property At The Mill In Long Island City
FINANCED
$9,000,000
New York
See Similar DealsIndustrial
Financed 01/26/2022
FINANCED
Sterling Bank Provides $9M Refinance Loan For Industrial Property At The Mill In Long Island City
46-24 28th Street, Queens, New York 11101, United States
See Similar DealsIndustrial
Financed 01/26/2022
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
The Mill - 46-24 28th St, located in Long Island City, was the subject of a recent loan transaction. The industrial property, owned by Sean Torkian, secured a refinancing loan from Sterling Bank for a total of $9,000,000. This loan will provide financial support to the property.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $9,000,000
- Date: 01/26/2022
- Market: Long Island City
- Lender: Sterling Bank
- Landlord: Sean Torkian
- Brokers: David Oheb & Max Jacobson - Meridian Capital Group
David Oheb and Max Jacobson from Meridian Capital Group acted as the brokers in this transaction. For more information on how Meridian can assist with portfolio management, please contact David Oheb at 212-612-0193 or via email at [email protected].
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions