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Matthew Whalen Of Cord Meyer Development Company Secures $42.5M Loan From Webster Bank For Office Properties

Property Image
FINANCED
$42,500,000

New York

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Office278,460 SF
Financed 09/04/2025
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Property Image
FINANCED

Matthew Whalen Of Cord Meyer Development Company Secures $42.5M Loan From Webster Bank For Office Properties

108 18 Queens Boulevard & 51 31 Northern Boulevard

See Similar Deals
Office278,460 SF
Financed 09/04/2025
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$152
Total Square Footage:278,460 SF
Transaction Type:Loan

The asset involved in this transaction is an office property with a total square footage of 139,230 located at 108-18 Queens Boulevard in Forest Hills and 51-31 Northern Boulevard in Woodside. The transaction secured a loan amount of $42,500,000, facilitated by Webster Bank in the Queens market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $42,500,000
  • Lender: Webster Bank
  • Landlord: Matthew Whalen - Cord Meyer Development Company
  • Address: 108-18 Queens Boulevard & 51-31 Northern Boulevard
  • Market: Queens
  • Asset Size: 139,230 SF

This deal was managed by Matthew Whalen, representing Cord Meyer Development Company, demonstrating their involvement in securing the substantial financing for the two properties in the Queens area.

Players

Webster Bank
Webster Bank
LENDER
Matthew Whalen
Cord Meyer Development Company
Matthew Whalen
3 deals$107.4M volume
LANDLORD
Cord Meyer Development Company
Cord Meyer Development Company
LANDLORD

Details

FINANCED
IMAGE: Matthew Whalen DATE: 09/04/2025 ADDRESS: 108-18 Queens Boulevard & 51-31 Northern Boulevard MARKET: Queens ASSET TYPE: Office ~ SF: 139,230 LENDER: Webster Bank LANDLORD: Matthew Whalen - Cord Meyer Development Company LOAN AMOUNT: $42,500,000 NOTE: Cord Meyer Development secured a $42.5 million loan from Webster Bank backed by two properties at 108-18 Queens Blvd. in Forest Hills and 51-31 Northern Blvd. in Woodside.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,500,000.00

Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00