Signature Bank Provides $88M Refinance Loan For Mixed-Use Property On Davis St In Long Island City
45-57 Davis Street, Queens, New York 11101, United States
$88,000,000
$690/SF
Building Size
127,456 SF
Asset Type
Mixed-use
Closing
Mar 30, 2022
AI
The mixed-use property located at 45-57 Davis St. in Long Island City has been refinanced through a loan.
Date: 03/31/2022
Market: Long Island City
Asset Type: Mixed-use
Square Footage: 127,456
Units: 158
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $88,000,000
- Loan Type: Refinance
- Lender: Signature Bank
- Landlord: Solomon Feder & Joel Zupnick
- Broker: The SHB Group
The loan amount for the refinancing of this property is $88,000,000, provided by Signature Bank. The property's landlords, Solomon Feder and Joel Zupnick, have successfully secured this loan through the representation of their broker, The SHB Group.
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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93