Landesbank Hessen-Thuringen Girozentrale Provides $50M Loan For Mixed-Use Property In Long Island City
43-12 Hunter Street, Long Island City, NY, USA
$50,000,000
$26,666/SF
Building Size
1,875 SF
Asset Type
Mixed-use
Closing
Aug 19, 2020
About this deal
AI
The mixed-use property located at 43-12 Hunter Street in Long Island City has been involved in a recent transaction. The loan deal took place on August 19, 2021. The property is owned by Henry Elghanayan and Justin Elghanayan of Rockrose Development. The asset includes both residential and commercial spaces.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $50,000,000
- Lender: Landesbank Hessen-Thuringen Girozentrale
- Landlord: Henry Elghanayan & Justin Elghanayan - Rockrose Development
The financing for this transaction was provided by Landesbank Hessen-Thuringen Girozentrale. The loan amount was $50,000,000. Henry Elghanayan and Justin Elghanayan, representing Rockrose Development, served as the landlords in this deal.
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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93