Flushing Bank Arranges Refinance For Christopher Persuad 17302 Jamaica Avenue Mixed Use
173 02 Jamaica Avenue
$1,400,000
$311/SF
Building Size
4,500 SF
Asset Type
Mixed-use
Closing
Jul 30, 2025
AI
The asset is a mixed-use property in the Jamaica market, located at 173-02 Jamaica Avenue. It comprises 4 units across 4,500 square feet. The transaction is a refinance loan of $1,400,000 from Flushing Bank, with landlord Christopher Persuad.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $1,400,000
- Address: 173-02 Jamaica Avenue
- Market: Jamaica
- Asset Details: SF 4,500; UNITS 4
- Lender: Flushing Bank
- Landlord: Christopher Persuad
- Broker: Christopher J. Calabrese - The CS Organization
- Attorneys: Anthony Castellano, Esq. & Christopher J. Merone, Esq. - Castellano & Merone Law Group, PLLC
- Date: 7/31/2025
- Note from Broker: CS Advisory specializes in arranging debt solutions for opportunistic commercial real estate sponsors across the country.
The deal's key participants include the landlord, broker Christopher J. Calabrese of The CS Organization, and legal counsel Anthony Castellano, Esq. and Christopher J. Merone, Esq. of Castellano & Merone Law Group, PLLC. These individuals contributed to coordinating the refinance of the Jamaica Avenue asset in the Jamaica market.
Players
Jamaica 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93