Simon Baron Development Secures $240M Loan For 29-22 Northern Boulevard Mixed Use Property
FINANCED
$240,000,000
New York
See Similar DealsMixed-use31,367 SF
Financed 06/25/2019
FINANCED
Simon Baron Development Secures $240M Loan For 29-22 Northern Boulevard Mixed Use Property
29-22 Northern Blvd, Long Island City, NY 11101, USA
See Similar DealsMixed-use31,367 SF
Financed 06/25/2019
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$7,651
Total Square Footage:31,367 SF
Transaction Type:Loan
A mixed-use and co-living property located at 29-22 Northern Boulevard in Long Island has been involved in a closed transaction. The deal was finalized on June 25, 2019.
Summary of transaction details
- Property Type: Mixed Use & Co-living
- Transaction Amount: $240,000,000
- Lender: Société Générale and Deutsche Pfandbriefbank
- Landlord: Simon Baron Development
- Tenant: @Ollie.Co
Jonathan Simon and Matthew Baron were the individuals involved in this transaction. The lender for this deal was Société Générale and Deutsche Pfandbriefbank. The landlord of the property is Simon Baron Development, while the tenant is @Ollie.Co.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$240,000,000.00
Monthly NOI$1,600,000.00
Monthly Debt Service$1,516,963.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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