Wells Fargo Provides $55M Floating-Rate Loan For Flushing Mixed-Use Property
FINANCED
$55,000,000
New York
See Similar DealsMixed-use151,007 SF
Financed 07/30/2021
FINANCED
Wells Fargo Provides $55M Floating-Rate Loan For Flushing Mixed-Use Property
144-74 Northern Boulevard, Flushing, NY, USA
See Similar DealsMixed-use151,007 SF
Financed 07/30/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$364
Total Square Footage:151,007 SF
Transaction Type:Loan
The mixed-use property located at 144-74 Northern Boulevard in Flushing was involved in a closed transaction on July 30, 2021. The property is owned by Skyview Companies and was financed by a $55,000,000 loan provided by Wells Fargo. The loan terms are floating-rate and LIBOR-based. Morris Betesh and Omar Ferreira of Meridian Capital Group represented the landlord in the deal.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $55,000,000
- Date: 07/30/2021
- Address: 144-74 Northern Boulevard
- Market: Flushing
Morris Betesh and Omar Ferreira, from Meridian Capital Group, served as the brokers representing the landlord, Skyview Companies, in this transaction.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,000,000.00
Monthly NOI$366,666.67
Monthly Debt Service$347,637.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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