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Cirrus Real Estate Partners Acquires $25M Note From Shanghai Commercial Bank In Flushing Queens
SOLD
$25,000,000
New York
See Similar DealsNote / Loan
Sold 09/30/2025
SOLD
Cirrus Real Estate Partners Acquires $25M Note From Shanghai Commercial Bank In Flushing Queens
37 02 College Point Boulevard
See Similar DealsNote / Loan
Sold 09/30/2025
Summary
NEW YORK
Asset Type:Note / Loan
Transaction Type:Sale
A note secured by F&T Group’s surface parking lot located at 37-02 College Point Boulevard in Flushing, Queens was involved in this transaction. The asset was acquired for a total amount of $25,000,000.
Summary of transaction details:
- Property Type: Note / Loan
- Transaction Amount: $25,000,000
- Buyer: Cirrus Real Estate Partners
- Seller: Shanghai Commercial Bank
- Location: 37-02 College Point Boulevard, Flushing, Queens
The transaction was facilitated between Cirrus Real Estate Partners, representing the buyer, and Shanghai Commercial Bank, representing the seller. The deal involves a financial instrument rather than a traditional real estate transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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