Rosenwach Group Secures $11.4 Million Refi Loan For Mixed-Use Building In Ditmars Steinway, Queens
43-02 Ditmars Blvd Queens, NY 11105, USA
$11,400,000
$93/SF
Building Size
122,570 SF
Asset Type
Mixed-use
Closing
Jul 24, 2023
About this deal
AI
The Rosenwach Group has secured a refinance loan of $11.4 million for the mixed-use building located at 43-02 Ditmars Boulevard in Ditmars Steinway, Queens. The property spans 122,570 square feet and is situated in the Ditmars Steinway market.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $11,400,000
- Address: 43-02 Ditmars Boulevard
- Market: Ditmars Steinway, Queens
- Lender: JP Morgan Chase
- Lender's Representative: Ursula Flores
- Landlord: Rosenwach Group
- Landlord's Representative: Andrew Rosenwach
JPMorgan Chase, represented by Ursula Flores, provided the $11.4 million refi loan to the Rosenwach Group for the acquisition of the mixed-use building at 43-02 Ditmars Boulevard in Ditmars Steinway, Queens.
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
1.39%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93