Maxim Capital Group Provides $25M Refinance Loan For Mixed-Use Property In Flushing
FINANCED
$25,000,000
New York
See Similar DealsMixed-use105,000 SF
Financed 12/30/2021
FINANCED
Maxim Capital Group Provides $25M Refinance Loan For Mixed-Use Property In Flushing
33 Farrington Street, Flushing, NY 11354
See Similar DealsMixed-use105,000 SF
Financed 12/30/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$238
Total Square Footage:105,000 SF
Transaction Type:Loan
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.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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