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
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