Deutsche Bank Provides $70M Refinance Loan For Forest Hills Mixed-Use Property
107-02 Queens Boulevard, Queens, New York 11375, United States
$70,000,000
$1,051/SF
Building Size
66,573 SF
Asset Type
Mixed-use
Closing
Mar 16, 2022
About this deal
AI
The mixed-use property located at 107-02 Queens Boulevard in Forest Hills has recently undergone a refinancing transaction. The property spans a total square footage of 66,573 and is situated in the vibrant market of Forest Hills.
Summary of transation details
- Property Type: Mixed-use
- Transaction Amount: $70,000,000
- Loan Type: Refinance
- Lender: Deutsche Bank
- Landlord: RJ Capital Holdings
- Brokers: Morris Betesh, Alex Bailkin, and Eli Serebrowski - Meridian Capital Group
Deutsche Bank provided a loan of $70,000,000 for the refinancing of the property. The landlord, RJ Capital Holdings, oversaw the transaction. The brokers involved in facilitating the deal were Morris Betesh, Alex Bailkin, and Eli Serebrowski from Meridian Capital Group.
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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93