Eli Hassine Secures $1.5M Loan For Mixed-Use Property In Ozone Park, Queens
105-32 Rockaway Blvd, South Ozone Park, Queens County, NY, USA
$1,500,000
$168/SF
Building Size
8,893 SF
Asset Type
Mixed-use
Closing
Apr 13, 2020
About this deal
AI
A mixed-use property located at 105-32, 105-34, & 106-02 Rockaway Blvd in Ozone Park, Queens was recently involved in a closed transaction. This property spans over 8,893 square feet and consists of 6 residential units and 4 commercial units.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $1,500,000
- Date: 04/14/2020
- Market: Ozone Park, Queens
- Square footage: 8,893
- Units: 6 Residential, 4 Commercial
The loan for this transaction was provided by Webster Bank at an amount of $1,500,000 with a fixed interest rate of 3.17% for 10 years. The landlord involved in this deal is Eli Hassine. The broker representing this transaction is David Oheb from Meridian Capital Group.
One notable detail about this transaction is that 68% of the property's gross income was derived from commercial units, indicating a significant commercial concentration.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93