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Colony Credit Real Estate Provides $74M Loan For Mixed-Use Property In Long Island

Property Image
FINANCED
$74,000,000

New York

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Mixed-use1,320,000 SF
Financed 05/30/2019
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Property Image
FINANCED

Colony Credit Real Estate Provides $74M Loan For Mixed-Use Property In Long Island

2100 49th Ave, Long Island City, NY 11101, USA

See Similar Deals
Mixed-use1,320,000 SF
Financed 05/30/2019
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$56
Total Square Footage:1,320,000 SF
Transaction Type:Loan

The mixed-use property located at 2100 49th Avenue in Long Island has recently been involved in a closed transaction. The property spans 132,000 square feet and comprises various types of real estate. The deal was facilitated by Dustin Stolly and Jordan Roeschlaub from Newmark Knight Frank, who represented the buyer and seller in the transaction.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $74,000,000
  • Square Footage: 132,000
  • Address: 2100 49th Avenue
  • Market: Long Island

The lender for this transaction was Colony Credit Real Estate, while the landlord of the property is GreenOak Real Estate and Related Companies. Notably, the transaction included the collaboration of various individuals and companies, including Sonny Kalsi, Stephen Ross, Jim Blakemore, and Dustin Stolly. These key individuals played significant roles in the successful completion of the transaction, representing their respective parties throughout the deal.

Players

Dustin Stolly
264 deals$49.1B volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Related Companies
LANDLORD

Details

FINANCED
IMAGE: Jordan Roeschlaub, Sonny Kalsi, Stephen Ross, Jim Blakemore and Dustin Stolly DATE: 05/30/2019 ADDRESS: 2100 49th Avenue MARKET: Long Island ASSET TYPE: Mixed-use LENDER: Colony Credit Real Estate LANDLORD: GreenOak Real Estate and Related Companies BROKER: Dustin Stolly and Jordan Roeschlaub – Newmark Knight Frank LOAN AMOUNT: $74,000,000 SF: 132,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$74,000,000.00

Monthly NOI$493,333.33
Monthly Debt Service$467,730.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00