Signature Bank Provides $88M Refinance Loan For Mixed-Use Property On Davis St In Long Island City
FINANCED
$88,000,000
New York
See Similar DealsMixed-use127,456 SF
Financed 03/31/2022
FINANCED
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
See Similar DealsMixed-use127,456 SF
Financed 03/31/2022
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$690
Total Square Footage:127,456 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$88,000,000.00
Monthly NOI$586,666.67
Monthly Debt Service$556,219.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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