BridgeCity Capital Provides $25.75M Construction Loan For Mixed-Use Property At 26-04 Jackson Ave, Long Island City
26-04 Jackson Avenue
$25,750,000
Building Size
—
Asset Type
Mixed-use
Closing
Nov 7, 2023
About this deal
AI
The mixed-use property at 26-04 Jackson Avenue in Long Island City has recently undergone a closed transaction involving a construction loan. The deal was facilitated by BridgeCity Capital, a lender specializing in financing various types of projects. The loan amount for this construction project was $25,750,000, with a loan type specifically designated for construction purposes.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $25,750,000
- Market: Long Island City
- Lender: BridgeCity Capital
- Loan Type: Construction
- Loan Terms: 20 months + extension options; LTC 70%
BridgeCity Capital, a prominent lending institution, is actively involved in financing mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and other states. For more information or to inquire about loan opportunities, visit their website at www.bridgecityfunding.com or contact [email protected].
Players
Long Island City Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93