Asset Realty And Construction Group Acquires Mixed-Use Property On Rockaway Beach Blvd For $13.5M
FINANCED
$13,500,000
New York
See Similar DealsMixed-use16,971 SF
Financed 10/01/2020
FINANCED
Asset Realty And Construction Group Acquires Mixed-Use Property On Rockaway Beach Blvd For $13.5M
114-30 Rockaway Beach Blvd, Rockaway Park, NY 11694, USA
See Similar DealsMixed-use16,971 SF
Financed 10/01/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$795
Total Square Footage:16,971 SF
Transaction Type:Loan
The mixed-use property located at 114-115 Rockaway Beach Blvd in Rockaway Park, Queens has recently undergone a closed transaction. The property, situated in an R5B, C1-3 zoned area, offers a total square footage of 16,971 and has attracted significant attention in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $13,500,000
- Address: 114-115 Rockaway Beach Blvd
- Market: Rockaway Park, Queens
- Zoning: R5B, C1-3
The loan for this transaction was provided by 1st Constitution Bank. The landlord of the property is Asset Realty and Construction Group, represented by Dino Tomassetti. Kathy Anderson, from Progress Capital, served as the broker in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,500,000.00
Monthly NOI$90,000.00
Monthly Debt Service$85,329.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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