Madison Realty Capital Provides $90M Loan For Mixed-Use Property In Downtown Flushing, Queens
133-25 37th Avenue, Queens, New York 11354, United States
$90,000,000
$342/SF
Building Size
263,151 SF
Asset Type
Mixed-use
Closing
Apr 27, 2022
About this deal
AI
The mixed-use property located at 133-25 37th Avenue in Downtown Flushing, Queens has been involved in a recent closed transaction. The property spans a total square footage (BSF) of 263,151 and is situated in the vibrant market of Downtown Flushing.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $90,000,000
- Date: 04/28/2022
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: 37 Ave Richouse LLC
The loan amount for this transaction was $90,000,000 and was provided by Madison Realty Capital, with Josh Zegen representing the lender. The landlord involved in the deal is 37 Ave Richouse LLC.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93