J.P. Morgan Provides $11.2M Purchase Loan For Astoria Mixed-Use Property
FINANCED
$11,200,000
New York
See Similar DealsMixed-use70,000 SF
Financed 01/31/2022
FINANCED
J.P. Morgan Provides $11.2M Purchase Loan For Astoria Mixed-Use Property
36 29th Street, Queens, New York 11106, United States
See Similar DealsMixed-use70,000 SF
Financed 01/31/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$160
Total Square Footage:70,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,200,000.00
Monthly NOI$74,666.67
Monthly Debt Service$70,791.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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