Alma Bank Provides $27M Refinance Loan For Office Buildings In Ditmars Steinway, Queens
23-25 31st Street, Queens, New York 11101, United States
$27,000,000
$287/SF
Building Size
93,991 SF
Asset Type
Office
Closing
Aug 9, 2022
About this deal
AI
Located in the Ditmars Steinway market, the property at 23-25 31st Street & 23-19 31st Street is an office space spanning approximately 93,991 square feet. The loan transaction, which took place on 08/10/2022, involved a refinance of the property.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,000,000
- Lender: Alma Bank
- Landlord: Yiannis Konstantinidis
Yiannis Konstantinidis represented the landlord in this refinance deal. The loan was provided by Alma Bank.
The office loan at 23-25 31st Street, Queens, New York 11101, United States in New York, New York financed for $27M in 2022. The building is 93,991 square feet, implying about 287 per square foot on the published price. This page is the New York, New York file for the 23-25 31st Street, Queens, New York 11101, United States office financed: pricing, party profiles, and other closed office comps from the same New York sit in the Market section below. Filter that New York office set by closing date to see what else financed near 23-25 31st Street, Queens, New York 11101, United States around 2022. Published consideration for 23-25 31st Street, Queens, New York 11101, United States is $27M, dated 2022. Cite this Alma Bank Provides $27M Refinance Loan For Office Buildings In Ditmars Steinway, Queens loan when underwriting similar office product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93