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David L. Edelstein Of TriCap Secures $10M Refinance Loan From Citizens Bank In Flushing
FINANCED
$10,000,000
New York
See Similar DealsMixed-use19,500 SF
Financed 10/30/2025
FINANCED
David L. Edelstein Of TriCap Secures $10M Refinance Loan From Citizens Bank In Flushing
136 65 Roosevelt Avenue
See Similar DealsMixed-use19,500 SF
Financed 10/30/2025
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$512
Total Square Footage:19,500 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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