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173 02 Jamaica Avenue

Flushing Bank Arranges Refinance For Christopher Persuad 17302 Jamaica Avenue Mixed Use
FINANCEDMixed-use

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

Christopher J. Calabrese

The CS Organization

Broker

$24.6M

vol

17 deals

Broker
The CS Organization
The CS OrganizationBrokerage

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