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134-01 20th Avenue

Mattone Investors Refinances Mixed-Use Building In College Point, Queens With $8.1M Loan From Flushing Bank
FINANCEDMixed-use

Mattone Investors Refinances Mixed-Use Building In College Point, Queens With $8.1M Loan From Flushing Bank

134-01 20th Avenue

$8,100,000

$269/SF

Building Size

30,008 SF

Asset Type

Mixed-use

Closing

Aug 17, 2023

AI

The mixed-use building at 134-01 20th Avenue in College Point, Queens, has secured an $8.1 million refinance loan from Flushing Bank. The property, owned by Michael X. Mattone of Mattone Investors, encompasses 30,008 square feet and is located in the bustling market of College Point, Queens.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $8,100,000
  • Lender: Maura Nicolosi - Flushing Bank
  • Landlord: Michael X. Mattone - Mattone Investors

Mattone Investors, represented by Cpeoa Limited Partnership, has successfully secured the $8.1 million refinance loan from Flushing Bank for their mixed-use building. This transaction will likely contribute to the continued success and growth of the property under the diligent ownership of Michael X. Mattone and Mattone Investors.

Players

Flushing Bank
Flushing BankLender

Michael X. Mattone

Mattone Investors

Landlord

$42.1M

vol

3 deals

Landlord

Market 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

1.96%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93