Muss Development Acquires Office Building On Queens Boulevard In Forest Hills, New York
118-35 Queens Blvd, Forest Hills, NY 11375, USA
$75,400,000
$145/SF
Building Size
519,000 SF
Asset Type
Office
Closing
Jul 5, 2018
About this deal
AI
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.
On the Map
$75,400,000
$145/SF
Office
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Players
Queens Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93