Muss Development Acquires Office Building On Queens Boulevard In Forest Hills, New York
FINANCED
$75,400,000
New York
See Similar DealsOffice519,000 SF
Financed 07/06/2018
FINANCED
Muss Development Acquires Office Building On Queens Boulevard In Forest Hills, New York
118-35 Queens Blvd, Forest Hills, NY 11375, USA
See Similar DealsOffice519,000 SF
Financed 07/06/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$145
Total Square Footage:519,000 SF
Transaction Type:Loan
The closed property transaction involves an office asset located at 118-35 Queens Boulevard in the Forest Hills market of New York City. The property spans a total area of 519,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $75,400,000
- Date: 07/06/2018
- Lender: AXA Equitable Life Insurance Company
- Landlord/Developer: Muss Development
- Image: Joshua and Jason Muss
This deal was facilitated with the involvement of law representatives from both parties. The transaction represents a significant milestone for Muss Development, the landlord and developer of the property, in their ongoing business endeavors.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$75,400,000.00
Monthly NOI$502,666.67
Monthly Debt Service$476,579.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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