Yinni Li Secures $1.7M Refinance Loan From Spring Bank For Mixed-Use Property In Jackson Heights
FINANCED
$1,700,000
New York
See Similar DealsMultiFamily3,400 SF
Financed 10/09/2024
FINANCED
Yinni Li Secures $1.7M Refinance Loan From Spring Bank For Mixed-Use Property In Jackson Heights
37-53 82nd Street
See Similar DealsMultiFamily3,400 SF
Financed 10/09/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$500
Total Square Footage:3,400 SF
Transaction Type:Loan
The property asset is a mixed-use building located at 37-53 82nd Street in the Jackson Heights market. The asset encompasses a total area of 3,400 square feet and has a loan amount of $1,700,000 associated with it. The lending institution involved in this transaction is Spring Bank, which provided the refinance loan.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,700,000
- Address: 37-53 82nd Street
- Market: Jackson Heights
- Lender: Spring Bank
- Landlord: Yinni Li
- Broker: James Hansen - Highcap Group
- Loan Type: Refinance
The deal features key individuals including Yinni Li, the landlord, and James Hansen of Highcap Group, who acted as the broker representing the transaction. This refinancing involved Spring Bank as the lender handling the financial aspect of the asset at the specified address.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,700,000.00
Monthly NOI$11,333.33
Monthly Debt Service$10,745.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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