Ladder Capital Finance Refinances Mixed-Use Property In Ridgewood, Queens For $60M
FINANCED
$60,000,000
New York
See Similar DealsMixed-use140,000 SF
Financed 11/10/2021
FINANCED
Ladder Capital Finance Refinances Mixed-Use Property In Ridgewood, Queens For $60M
48-05 Metropolitan Avenue, Queens, NY, USA
See Similar DealsMixed-use140,000 SF
Financed 11/10/2021
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$428
Total Square Footage:140,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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