Walker & Dunlop Secures $76M Loan For Long Island City Mixed-Use Property
8 Court Place, Staten Island, NY 10306, USA
$76,000,000
$39,979/SF
Building Size
1,901 SF
Asset Type
Mixed-use
Closing
Aug 25, 2021
About this deal
AI
Located at 8 Court Square in Long Island City, this mixed-use property recently closed a transaction. The property consists of 157 units and is owned by Werwaiss Properties & Rose Associates.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $76,000,000
- Address: 8 Court Square
- Market: Long Island City
- Units: 157
The deal was facilitated by Walker & Dunlop, with brokers Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Aaron Appel representing the parties involved in the transaction.
On the Map
$76,000,000
$39,979/SF
Mixed-use
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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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93