J.P. Morgan Provides $11.2M Purchase Loan For Astoria Mixed-Use Property
36 29th Street, Queens, New York 11106, United States
$11,200,000
$160/SF
Building Size
70,000 SF
Asset Type
Mixed-use
Closing
Jan 30, 2022
About this deal
AI
A mixed-use property located at 36-05 29th Street in Astoria, Queens has recently been involved in a closed transaction. The property spans approximately 70,000 square feet and is situated in the Astoria market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $11,200,000
- Loan Type: Purchase loan
- Lender: J.P. Morgan
- Brokers: Josh Rhine & Ezra Sutton - Meridian Capital Group
The loan to facilitate this transaction was provided by J.P. Morgan. Assisting in the deal were brokers Josh Rhine and Ezra Sutton from the Meridian Capital Group.
On the Map
$11,200,000
$160/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
1.42%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93