RockFarmer Properties And RWN Real Estate Partners Secures $42.5M Loan For Mixed-Use Property In Queens, New York
82-11 37th Avenue
$42,500,000
$751/SF
Building Size
56,580 SF
Asset Type
Mixed-use
Closing
Aug 15, 2018
About this deal
AI
A mixed-use property located at 82-11 37th Avenue in Queens, New York, has recently been involved in a closed transaction. The property, owned by RockFarmer Properties and RWN Real Estate Partners, caught the attention of lenders and developers in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $42,500,000
Carlo Cinganelli provided a loan of $42,500,000 for this transaction. The property was represented by Savills Studley's David Krantz and Paul Leibowitz, who played a crucial role in ensuring the success of the deal.
On the Map
$42,500,000
$751/SF
Mixed-use
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Players
Queens 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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93