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Tammy Song Acquires Flushing And Jackson Heights Mixed-use & Retail Condo For $17.2M

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FINANCED
$17,200,000

New York

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Mixed-use29,615 SF
Financed 04/09/2020
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Property Image
FINANCED

Tammy Song Acquires Flushing And Jackson Heights Mixed-use & Retail Condo For $17.2M

84-01 Roosevelt Ave, Flushing, NY 11372, USA

See Similar Deals
Mixed-use29,615 SF
Financed 04/09/2020
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Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$580
Total Square Footage:29,615 SF
Transaction Type:Loan

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

LENDER

6 deals$62.5M volume
LANDLORD

Details

FINANCED
IMAGE: Tammy Song DATE: 04/09/2020 ADDRESS: 140-75 Ash Ave, 84-01 Roosevelt Ave MARKET: Flushing, Jackson Heights ASSET TYPE: Mixed-use & Retail condo LENDER: Royal Business Bank – Tammy Song LANDLORD: Henry Zheng LOAN AMOUNT: $17,200,000 SF: 29,615

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,200,000.00

Monthly NOI$114,666.67
Monthly Debt Service$108,715.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00