Pacific Western Bank Provides $90M Loan For Mixed-Use Property In Forest Hills, NY
69-65 Yellowstone Blvd, Forest Hills, NY, USA
$90,000,000
$1,868/SF
Building Size
48,170 SF
Asset Type
Mixed-use
Closing
May 24, 2021
AI
The mixed-use property located at 69-65 Yellowstone Blvd in Forest Hills has been involved in a recent closed transaction. The property consists of 166 units and is owned by Slate Property Group.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $90,000,000
- Address: 69-65 Yellowstone Blvd
- Market: Forest Hills
- Units: 166
Dustin Stolly, Jordy Roeschlaub, Daniel Fromm, and Dan Morin from Newmark represented the landlord, Slate Property Group, in the deal. The loan for the transaction was provided by Pacific Western Bank.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
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