Carlyle Group & King Street Properties Refinances Office Building In Long Island City For $113.9M
45-18 Court Square
$113,962,792
$561/SF
Building Size
203,103 SF
Asset Type
Office
Closing
Feb 10, 2023
About this deal
AI
An office property located at 45-18 Court Square in Long Island City has recently undergone a refinancing transaction. The property spans over 203,103 square feet and is situated in the vibrant market of Long Island City.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $113,962,792
- Address: 45-18 Court Square
- Market: Long Island City
- Lender: ACORE Capital - Emily Marcus Ralda
- Landlord: Carlyle Group & King Street Properties - Thomas Ragno
ACORE Capital, represented by Emily Marcus Ralda, provided the refinancing loan of $113,962,792 for the office property at 45-18 Court Square. The property is owned by Carlyle Group and King Street Properties, with Thomas Ragno serving as their representative in this 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93