United Construction & Development Group Acquires Note In Elmhurst, Queens From ConnectOne Bank For $6.65M
47 90th Street, Queens, New York 11373, United States
$6,650,000
Building Size
—
Asset Type
Other
Closing
Nov 22, 2022
About this deal
AI
The note at 47-11 90th Street, Elmhurst, Queens, was sold for a total transaction amount of $6,650,000. The property is situated in the Elmhurst market and was purchased by United Construction & Development Group - Jiashu Xu from ConnectOne Bank.
Summary of transation details
- Property Type: Note
- Transaction Amount: $6,650,000
- Date: 11/22/2022
- Address: 47-11 90th Street, Elmhurst, Queens
- Market: Elmhurst, Queens
- Buyer: United Construction & Development Group - Jiashu Xu
- Seller: ConnectOne Bank
Jiashu Xu, representing United Construction & Development Group, acted as the buyer in this transaction. ConnectOne Bank served as the seller. The sale of this note marks an important deal in the Elmhurst market.
On the Map
$6,650,000
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.39%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93