Verus Commercial Real Estate Finance Provides $9M Refinance Loan For Queens Office Property
133-24 41st Road, Queens, New York 11355, United States
$9,000,000
$673/SF
Building Size
13,370 SF
Asset Type
Office
Closing
Apr 11, 2022
AI
An office property located at 133-24 41st Rd in Queens recently underwent a refinancing transaction. The property spans approximately 13,370 square feet and is situated in the Queens market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,000,000
- Address: 133-24 41st Rd
- Market: Queens
- Lender: Verus Commercial Real Estate Finance
- Loan Type: Refinance
- Lender's Representative: Anthony Iervolino
In this transaction, Verus Commercial Real Estate Finance served as the lender. The loan was facilitated by Anthony Iervolino, the Executive Managing Director at Verus Commercial Real Estate Finance.
To learn more about this transaction, please contact Anthony R. Iervolino, the lender's representative, at [email protected] or 917-554-5608.
Players
New York 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93