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251 77 Jericho Turnpike

Broadfield Realty Capital Purchases $39.3 Million Loan For Medical Office And Retail In Queens
FINANCEDMixed-use

Broadfield Realty Capital Purchases $39.3 Million Loan For Medical Office And Retail In Queens

251 77 Jericho Turnpike

$33,900,000

$376/SF

Building Size

90,000 SF

Asset Type

Mixed-use

Closing

Jan 23, 2025

AI

The property asset involved is a Medical Office & Retail located at 251-73/77 Jericho Turnpike in the Queens market. The asset encompasses a total square footage of 90,000 and is part of a noteworthy transaction involving a loan type categorized as a Note Purchase, with a total note amount of $39,300,000.

Summary of transaction details:

  • Property Type: Medical Office & Retail
  • Transaction Amount: $39,300,000
  • Loan Type: Note Purchase
  • Address: 251-73/77 Jericho Turnpike
  • Market: Queens
  • Square Footage: 90,000
  • Buyer: Broadfield Realty Capital

The deal features key individuals, namely Aaron Lerman and Uanderson Benedetti, who are depicted in relation to this transaction. Their involvement indicates significant representation and engagement within this financial agreement.

Players

Broadfield Realty Capital
Broadfield Realty CapitalLender

Floral Park 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

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93