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27-01 Queens Plaza N Queens...

Apple Bank Refinances Office Building At 27-01 Queens Plaza North In New York City For $30M
FINANCEDOffice

Apple Bank Refinances Office Building At 27-01 Queens Plaza North In New York City For $30M

27-01 Queens Plaza N Queens, NY 11101, USA

$30,000,000

$42/SF

Building Size

700,000 SF

Asset Type

Office

Closing

Jul 24, 2023

AI

The property involved in this closed transaction is an office building located at 27-01 Queens Plaza North in New York City. The property spans approximately 700,000 square feet and is owned by Brause Realty.

Summary of transaction details

Apple Bank provided a loan amount of $30,000,000 for the refinance of the office property at 27-01 Queens Plaza North. The transaction involved the representation of Gideon Gil, Lauren Kaufman, and Dale Braverman from Cushman & Wakefield as brokers.

Players

Lauren Kaufman

JLL

Broker

$5.4B

vol

35 deals

Broker
Apple Bank
Apple BankLender
Brause Realty
Brause RealtyLandlord

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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93