Tishman Speyer Obtains $1 Billion Loan From Wells Fargo In Long Island City
2840 Jackson Ave, Queens, NY, 11101
$1,000,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 27, 2019
AI
The property at 2840 Jackson Ave, Queens, NY, 11101 in Long Island City, is a MultiFamily asset. The loan for this property, facilitated on 09/27/2019, involved a substantial amount of $1,000,000,000.00 provided by Wells Fargo.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,000,000,000.00
- Address: 2840 Jackson Ave, Queens, NY, 11101
- Borrower: Tishman Speyer
- Borrower's Representatives: Michael Gigliotti(JLL), Michael "Mike" Tepedino(JLL)
- Lender: Wells Fargo
The deal's key individuals included Michael Gigliotti and Michael "Mike" Tepedino from JLL who represented the borrower, Tishman Speyer, in securing the $1,000,000,000.00 loan from Wells Fargo. It highlights the critical roles played by these individuals in ensuring the successful completion of this significant financial transaction.
Players
Long Island City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.02%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93