Maxim Capital Group Provides $25M Refinance Loan For Mixed-Use Property In Flushing
33 Farrington Street, Flushing, NY 11354
$25,000,000
$238/SF
Building Size
105,000 SF
Asset Type
Mixed-use
Closing
Dec 30, 2021
About this deal
AI
Located at 33-68 Farrington St. in Flushing, this mixed-use property spans an impressive 105,000 square feet. The transaction involving this property took place on 12/30/2021 and involved a loan refinance.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $25,000,000
- Address: 33-68 Farrington St.
- Market: Flushing
- Loan Type: Refinance
- Lender: Maxim Capital Group - Adam Glick & Josh Greene
- Landlord: George Xu
- Brokers: Morris Betesh & Omar Ferreira - Meridian Capital Group
The loan refinance was facilitated by Adam Glick and Josh Greene from Maxim Capital Group. The property's landlord is George Xu. The transaction was handled by Morris Betesh and Omar Ferreira from Meridian Capital Group.
On the Map
$25,000,000
$238/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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93