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
- Property Type: Office
- Transaction Amount: $30,000,000
- Loan Type: Refinance
- Lender: Apple Bank
- Brokers: Gideon Gil, Lauren Kaufman & Dale Braverman - Cushman & Wakefield
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
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