Metropolitan Bank Provides $7.5M Construction Loan For Charter School In Astoria, Queens
34-12 10th Street, Astoria, Queens, NY 11106, USA
$7,500,000
$411/SF
Building Size
18,213 SF
Asset Type
Other
Closing
Oct 28, 2021
About this deal
AI
The property involved in this closed transaction is a Charter School located at 34-12 10th Street in Astoria, Queens. The transaction took place on 10/28/2021.
Summary of transaction details
- Property Type: Charter School
- Transaction Amount: $7,500,000
- Address: 34-12 10th Street, Astoria, Queens
- Market: Astoria, Queens
The lender in this transaction was Metropolitan Bank, and the landlord was Barone Management. The brokers who facilitated the deal were Adam Hakim and James Murad from Meridian Capital Group.
This transaction involved a construction loan of $7,500,000.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Deal FAQ
Visit James Murad to view all their deals.
Browse New York other loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93