Tammy Song Acquires Flushing And Jackson Heights Mixed-use & Retail Condo For $17.2M
84-01 Roosevelt Ave, Flushing, NY 11372, USA
$17,200,000
$580/SF
Building Size
29,615 SF
Asset Type
Mixed-use
Closing
Apr 8, 2020
AI
The mixed-use and retail condo located at 140-75 Ash Ave, 84-01 Roosevelt Ave in Flushing, Jackson Heights has been involved in a closed transaction. The property spans a total of 29,615 square feet. The loan for this transaction was provided by Royal Business Bank, with Tammy Song representing the bank in the deal. The landlord for the property is Henry Zheng.
Summary of transaction details
- Property Type: Mixed-use & Retail Condo
- Transaction Amount: $17,200,000
- Lender: Royal Business Bank – Tammy Song
- Landlord: Henry Zheng
- Address: 140-75 Ash Ave, 84-01 Roosevelt Ave
- Market: Flushing, Jackson Heights
- Square Footage: 29,615
Tammy Song, representing Royal Business Bank, played a crucial role in this transaction as the lender's representative. The involvement of Henry Zheng as the landlord showcases the various parties involved in the deal.
Players
New York 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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93