facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Loan

/

33 Farrington Street, Flush...

Maxim Capital Group Provides $25M Refinance Loan For Mixed-Use Property In Flushing
FINANCEDMixed-use

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

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

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.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$12.4B

vol

214 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Maxim Capital Group
Maxim Capital GroupLender
George Xu

George Xu

Century Development Group

Landlord

$286.8M

vol

11 deals

Landlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

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