Island Federal Credit Union Provides $4M Refinance Loan For Woodhaven Office Building
93-22 Jamaica Avenue
$4,000,000
$142/SF
Building Size
28,000 SF
Asset Type
Office
Closing
Dec 22, 2023
About this deal
AI
An office property located at 93-22 Jamaica Avenue in Woodhaven has recently undergone a loan refinancing transaction. The property spans 28,000 square feet and is situated in the Woodhaven market.
Summary of transaction details
- Property Type: Office
- Loan Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: 5+5/30 Year Amortization
- No Pre-payment Penalty for the Life of the Loan
The loan was provided by Island Federal Credit Union. John Lagoudis from Aegean Commercial Capital acted as the broker in the transaction.
On the Map
$4,000,000
$142/SF
Office
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Players
Queens 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93