Arik Lifshitz Acquires Long Island City Property For $47M From Seller Jack Guttman
FINANCED
$31,500,000
New York
See Similar DealsOther96,450 SF
Financed 11/12/2019
FINANCED
Arik Lifshitz Acquires Long Island City Property For $47M From Seller Jack Guttman
29-28 41st Ave, Long Island City, NY 11101, USA
See Similar DealsOther96,450 SF
Financed 11/12/2019
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$326
Total Square Footage:96,450 SF
Transaction Type:Loan
The property asset involved in the transaction is located at 29-28 41st Street in Long Island City, Queens. It encompasses a total square footage of 96,450 and was sold for $47,000,000, which reflects a price per square foot valuation of $487.
Summary of transaction details:
- Property Type: Not specified
- Transaction Amount: $47,000,000
- Loan Amount: $31,500,000
- Buyer: Arik Lifshitz (DSA)
- Seller: Jack Guttman
- Lender: Avi Weinstock
Key individuals involved in the deal include Adan Elias Kornfeld, David Schechtman, Jonathan Shainberg, Amit Doshi, and Arik Lifshitz representing the buyer, while Avi Weinstock, Arik Lifshitz, and Josh Rhine are associated with the loan. The transaction took place on November 12, 2019.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,500,000.00
Monthly NOI$210,000.00
Monthly Debt Service$199,101.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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