Pi Capital Partners Secures $43M Loan From The Industrial And Commercial Bank Of China (USA) For Flushing Office Building
136-18 39th Ave, Flushing, NY 11354, USA
$43,000,000
$430/SF
Building Size
100,000 SF
Asset Type
Office
Closing
Aug 22, 2018
About this deal
AI
The office property located at 136-18 39th Avenue in Flushing, New York has recently been involved in a closed transaction. The property measures 100,000 square feet and was sold for a loan amount of $43,000,000. The transaction took place on August 23, 2018. The market value of the property is not specified in the provided context.
Summary of Transaction Details
- Property Type: Office
- Transaction Amount: $43,000,000
- Lender: The Industrial and Commercial Bank of China (USA)
- Landlord/Developer: Pi Capital Partners
- Loan Terms: 5 years
The lender involved in the transaction was The Industrial and Commercial Bank of China (USA). The landlord/developer responsible for the property is Pi Capital Partners. The loan terms for the transaction were set for a period of 5 years.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93