Madison Realty Capital Provides $125M Construction Loan For Mixed-Use Property In Rego Park, Queens
9808 Queens Boulevard, Rego Park, NY, 11374, USA
$125,000,000
$378/SF
Building Size
330,000 SF
Asset Type
Mixed-use
Closing
Dec 8, 2021
About this deal
AI
Located at 98-08 Queens Boulevard in Rego Park, this mixed-use property spans a total of 330,000 square feet. The asset consists of 186 units, with 94,654 square feet dedicated to retail and community facility space. Additionally, there is a 365-car parking garage on the premises.
Summary of Transaction Details
- Property Type: Mixed-Use
- Address: 98-08 Queens Boulevard, Rego Park
- Market: Rego Park
- Square Footage: 330,000
- Units: 186
- Retail and Community Facility Space: 94,654 square feet
- Parking Garage: 365 cars
- Lender: Madison Realty Capital - Josh Zegen
- Landlord: RB Realty Capital
- Loan Amount: $125,000,000
- Loan Type: Construction Loan
The construction loan for this property was provided by Madison Realty Capital, with Josh Zegen representing the lender in the transaction. The landlord of the property is RB Realty Capital. This deal highlights the involvement of key individuals and companies in the real estate sector.
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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93