AB Capstone Development Secures $14M Loan For Mixed-Use Property On Greenpoint Ave In Sunnyside
43-16 47th St, Sunnyside, NY 11104, USA
$14,000,000
$49/SF
Building Size
281,530 SF
Asset Type
Mixed-use
Closing
Nov 20, 2019
About this deal
AI
The mixed-use property located at 47-16 Greenpoint Avenue in Sunnyside recently closed in a transaction. The property features a total square footage of 28,153 and is situated in the Sunnyside market. The transaction involved a loan amount of $14,000,000 from Sterling National Bank. The landlord for the property is AB Capstone Development.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $14,000,000
- Address: 47-16 Greenpoint Avenue
- Market: Sunnyside
- Loan Amount: $14,000,000
- BSF: 28,153
The deal was facilitated by Sterling National Bank as the lender and AB Capstone Development as the landlord. The involvement of these key individuals and companies highlights their role in the transaction.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93