Wolkoff Family Secures $348.6M Loan For 22-44 Jackson Avenue Property In Long Island City
22-44 Jackson Avenue, Long Island City, NY, USA
$348,616,515
$2,720/SF
Building Size
128,150 SF
Asset Type
Mixed-use
Closing
Mar 28, 2021
About this deal
AI
The mixed-use property located at 22-44 Jackson Avenue in Long Island City was recently involved in a closed transaction. The property consists of 1,115 units and is situated in the Long Island City market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $348,616,515
- Address: 22-44 Jackson Avenue
- Market: Long Island City
- Units: 1,115
JPMorgan Chase Bank provided a loan of $348,616,515 for this transaction. The landlord of the property is the Wolkoff Family.
The mixed use loan at 22-44 Jackson Avenue, Long Island City, NY, USA in New York, New York financed for $348.6M in 2021. Reported inventory is 128,150 square feet across 1115 units, or about 2.7K per square foot. This page is the New York, New York file for the 22-44 Jackson Avenue, Long Island City, NY, USA mixed use financed: pricing, party profiles, and other closed mixed use comps from the same New York sit in the Market section below. Filter that New York mixed use set by closing date to see what else financed near 22-44 Jackson Avenue, Long Island City, NY, USA around 2021. Published consideration for 22-44 Jackson Avenue, Long Island City, NY, USA is $348.6M, dated 2021. Cite this Wolkoff Family Secures $348.6M Loan For 22-44 Jackson Avenue Property In Long Island City loan when underwriting similar mixed use product around New York, New York.
Players
New York 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93