Century Development Group Secures $38.2M Loan For Mixed-Use Property In Flushing
FINANCED
$38,200,000
New York
See Similar DealsMixed-use621 SF
Financed 02/24/2021
FINANCED
Century Development Group Secures $38.2M Loan For Mixed-Use Property In Flushing
134-37 35th Avenue, Flushing, NY, USA
See Similar DealsMixed-use621 SF
Financed 02/24/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$61,513
Total Square Footage:621 SF
Transaction Type:Loan
A mixed-use property located at 134-37 35th Avenue in Flushing has been involved in a closed transaction. The property was owned by @CenturyDevelopmentGroup, represented by George Xu. The deal was facilitated by brokers Morris Betesh and Omar Ferreira from Meridian Capital Group. The transaction took place on 02/24/2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $38,200,000
- Address: 134-37 35th Avenue
- Market: Flushing
The loan obtained for this transaction amounted to $38,200,000, with full-term interest-only terms.
Morris Betesh and Omar Ferreira from Meridian Capital Group played a crucial role in the deal, representing the buyers and sellers involved in the transaction.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,200,000.00
Monthly NOI$254,666.67
Monthly Debt Service$241,449.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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