Marko Kazanjian Of Institutional Property Advisors Secures $35M Loan For Mixed-Use Property In Long Island City
2320 Jackson Ave, Queens, NY, 11101
$35,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Aug 28, 2019
About this deal
AI
The property asset involved in this transaction is located at 2320 Jackson Ave, Queens, NY, 11101. It is categorized as a mixed-use asset, situated in the Long Island City market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $35,000,000.00
- Loan Date: 08/28/2019
- Borrower's Representative: Marko Kazanjian (Institutional Property Advisors)
- Lender: ACRES Capital Corp
This transaction involved key individuals and companies, with Marko Kazanjian representing the borrower through Institutional Property Advisors, while ACRES Capital Corp acted as the lender for the loan arrangement.
Players
Long Island City 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93