Pi Capital Partners Secures $43M Loan From The Industrial And Commercial Bank Of China (USA) For Flushing Office Building
FINANCED
$43,000,000
New York
See Similar DealsOffice100,000 SF
Financed 08/23/2018
FINANCED
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
See Similar DealsOffice100,000 SF
Financed 08/23/2018
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$430
Total Square Footage:100,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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