David L. Edelstein Of TriCap Secures $10M Refinance Loan From Citizens Bank In Flushing
136 65 Roosevelt Avenue
$10,000,000
$512/SF
Building Size
19,500 SF
Asset Type
Mixed-use
Closing
Oct 30, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 136-65 Roosevelt Avenue in Flushing, Queens. The asset has a square footage of 19,500 and is a refinance transaction involving a loan amount of $10,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,000,000
- Lender: Citizens Bank
- Landlord: David L. Edelstein - TriCap
- Previous Mortgage: JPMorgan Chase
This transaction sees David L. Edelstein, representing TriCap, refinancing the mixed-use property to replace an existing loan from JPMorgan Chase with a new loan from Citizens Bank. The refinancing highlights a strategic financial maneuver for the landlord in managing asset investment.
On the Map
$10,000,000
$512/SF
Mixed-use
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Players
Flushing 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93