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Jade Century Properties Refinances Flushing Multifamily Building With $101M Loan From Highbridge Partners III LLC
FINANCED
$101,000,000
New York
See Similar DealsMultiFamily551,193 SF
Financed 11/20/2023
FINANCED
Jade Century Properties Refinances Flushing Multifamily Building With $101M Loan From Highbridge Partners III LLC
131-02 40th Road
See Similar DealsMultiFamily551,193 SF
Financed 11/20/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$183
Total Square Footage:551,193 SF
Transaction Type:Loan
Xiaorong Zhai's multifamily property at 131-02 40th Road in Flushing, Queens has secured a $101 million refinance loan from Highbridge Partners III LLC. The property is a residential elevator building with 162 units, spanning a total square footage of 551,193.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $101,000,000
- Address: 131-02 40th Road, Flushing, Queens
- Market: Flushing, Queens
Jade Century Properties, owned by Xiaorong Zhai, acted as the landlord in this deal. Highbridge Partners III LLC served as the lender for the refinance loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$101,000,000.00
Monthly NOI$673,333.33
Monthly Debt Service$638,388.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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