BLDG Management Refinances Portfolio Of 10 Properties With $21.5M Loan From M&T Bank
153-01 Jamaica Avenue, 153-11 Jamaica Avenue & 4025 Laconia Avenue
$21,500,000
$79/SF
Building Size
270,282 SF
Asset Type
Office
Closing
Oct 5, 2023
AI
The portfolio of properties located at 153-01 Jamaica Avenue, 153-11 Jamaica Avenue, and 4025 Laconia Avenue in Jamaica, Queens and Wakefield, Bronx has been involved in a loan transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $21,500,000
- BSF: 326,583
- SF: 90,094
- Lender: Hunter Noah - M&T Bank
- Landlord: Lloyd Goldman - BLDG Management
- Loan Type: Refinance
BLDG Management, represented by signatory Lloyd Goldman, secured a refinance loan valued at $21.5 million from M&T Bank, specifically through their entity Manufacturers And Traders Trust Company. This loan is applicable to a portfolio of 10 properties within the mentioned locations.
Players
Hollis 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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93