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Muss Development Secures $24.9M Refinance Loan For Office Building In Jamaica Queens
FINANCED
$24,900,000
New York
See Similar DealsOffice
Financed 04/28/2025
FINANCED
Muss Development Secures $24.9M Refinance Loan For Office Building In Jamaica Queens
88 11 165th Street
See Similar DealsOffice
Financed 04/28/2025
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
An office building located at 88-11 165th Street in Jamaica, Queens, measures 202,900 sq ft. Muss Development, through Allied Jamaica LLC, has secured a refinance loan of $24.9 million from Symetra Life Insurance Company for this asset.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $24,900,000
- Lender: Symetra Life Insurance
- Landlord: Joshua L. Muss - Muss Development
- Market: Jamaica, Queens
- Loan Type: Refinance
Joshua L. Muss, representing Muss Development, played a crucial role in this transaction, facilitating the refinancing process through Allied Jamaica LLC. Symetra Life Insurance Company provided the financing needed for this office building in a key market area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,900,000.00
Monthly NOI$166,000.00
Monthly Debt Service$157,384.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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