Bank Of America Provides $425M Loan For 28-07 Jackson Avenue Mixed-Use Property In Long Island City
FINANCED
$425,000,000
New York
See Similar DealsMixed-use92,653 SF
Financed 08/27/2021
FINANCED
Bank Of America Provides $425M Loan For 28-07 Jackson Avenue Mixed-Use Property In Long Island City
2807 Jackson Avenue, Long Island City, NY 11101, USA
See Similar DealsMixed-use92,653 SF
Financed 08/27/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$4,587
Total Square Footage:92,653 SF
Transaction Type:Loan
Jerry Speyer & Rob Speyer have closed a loan transaction for a mixed-use property located at 28-07 Jackson Avenue in Long Island City. The property consists of both residential and commercial units.
Summary of transaction details:
- Property Type: Mixed-use
- Loan Amount: $425,000,000
- Address: 28-07 Jackson Avenue
- Market: Long Island City
The loan for this property was provided by Bank of America. The landlord of the property is Tishman Speyer, a renowned real estate company. The tenants of the property include WeWork, Bloomingdales, and Macy's.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$425,000,000.00
Monthly NOI$2,833,333.33
Monthly Debt Service$2,686,289.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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