Pine River Provides $15.2M Loan For 65,000 SF Office Space At 1519 Decatur Street In Ridgewood, Queens. Broker: Jonathan More
1519 Decatur St, Ridgewood, NY 11385, USA
$15,200,000
$233/SF
Building Size
65,000 SF
Asset Type
Office
Closing
Jun 20, 2019
AI
Pine River has provided a loan in the amount of $15,200,000 for an office asset located at 1519 Decatur Street in Queens, Ridgewood. The property spans a total area of 65,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,200,000
- Address: 1519 Decatur Street, Queens, Ridgewood
- Market: Queens, Ridgewood
The landlord of the office asset is Horning Capital Partners and Brickman Fund. Jonathan More, representing the broker, played a crucial role in the transaction.
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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93