Landesbank Hessen-Thuringen Girozentrale Provides $50M Loan For Mixed-Use Property In Long Island City
FINANCED
$50,000,000
New York
See Similar DealsMixed-use1,875 SF
Financed 08/19/2020
FINANCED
Landesbank Hessen-Thuringen Girozentrale Provides $50M Loan For Mixed-Use Property In Long Island City
43-12 Hunter Street, Long Island City, NY, USA
See Similar DealsMixed-use1,875 SF
Financed 08/19/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$26,666
Total Square Footage:1,875 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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