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
$425,000,000
$4,587/SF
Building Size
92,653 SF
Asset Type
Mixed-use
Closing
Aug 27, 2021
About this deal
AI
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.
On the Map
$425,000,000
$4,587/SF
Mixed-use
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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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93