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
About this deal
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.
On the Map
Players
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