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Long Island City, Queens, N...

Meridian Capital Group Brokers $61.5M Loan For Mixed Use Property In Long Island City
FINANCEDMixed-use

Meridian Capital Group Brokers $61.5M Loan For Mixed Use Property In Long Island City

Long Island City, Queens, NY, USA

$61,500,000

Building Size

Asset Type

Mixed-use

Closing

Dec 1, 2020

AI

22-43 Jackson Avenue, located in Long Island City, is a mixed-use property that was recently involved in a closed transaction. The property consists of 71 residential units, as well as a Trader Joe's. The deal was facilitated by brokers Adam Hakim, Andrew Iadeluca, and James Murad from Meridian Capital Group. The loan for this transaction was provided by Maxim Capital Group, and the landlords of the property are ZD Jasper Realty and Circle F. Capital. The total amount of the loan was $61,500,000.

Summary of transaction details

  • Property Type: Mixed use
  • Transaction Amount: $61,500,000
  • Address: 22-43 Jackson Avenue
  • Market: Long Island City
  • Brokers: Adam Hakim, Andrew Iadeluca, and James Murad - Meridian Capital Group
  • Lender: Maxim Capital Group
  • Landlords: ZD Jasper Realty and Circle F. Capital

If you are seeking additional information on this deal or need assistance with land, bridge, or construction loans, you can directly contact Andrew Iadeluca at [email protected] or call 212-612-0121.

Players

James Murad

Ripco

Broker

$3B

vol

64 deals

Broker
Meridian Capital Group
Meridian Capital GroupBrokerage
Maxim Capital Group
Maxim Capital GroupLender
ZD Jasper
ZD JasperLandlord

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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93