Ladder Capital Finance Refinances Mixed-Use Property In Ridgewood, Queens For $60M
48-05 Metropolitan Avenue, Queens, NY, USA
$60,000,000
$428/SF
Building Size
140,000 SF
Asset Type
Mixed-use
Closing
Nov 9, 2021
AI
Located in Ridgewood, Queens, the mixed-use property at 48-05 Metropolitan Avenue recently underwent a refinancing transaction. Spanning a total area of 140,000 square feet, this property boasts a diverse range of residential and commercial spaces.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $60,000,000
- Address: 48-05 Metropolitan Avenue
- Market: Ridgewood, Queens
- Lender: Ladder Capital Finance
- Landlord: Ryder Washburn
- Brokers: Jillian Mariutti & Brian Buglione - JLL Capital Markets
Jillian Mariutti and Brian Buglione from JLL Capital Markets played a pivotal role as brokers in arranging this refinancing deal. They effectively facilitated the transaction on behalf of the parties involved.
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
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93