Mattone Investors Refinances Retail Property In Springfield Gardens For $30M
134-40 Springfield Boulevard, Springfield Gardens, NY, USA
$30,000,000
$312/SF
Building Size
96,019 SF
Asset Type
Retail
Closing
Sep 8, 2021
About this deal
AI
The property at 134-40 Springfield Boulevard in Springfield Gardens has recently undergone a loan transaction. The retail asset spans a total area of 96,019 square feet. The loan, which took place on September 9, 2021, was a refinancing deal.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,000,000
- Lender: northmarq''>NorthMarq - Robert Delitsky & Charles Cotsalas
- Landlord: Mattone Investors - Michael X. Mattone
The loan was facilitated by NorthMarq, with Robert Delitsky and Charles Cotsalas representing the lending firm in the transaction. On the other side, the landlord, Mattone Investors, was represented by Michael X. Mattone.
On the Map
$30,000,000
$312/SF
Retail
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New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93