Acquisition Of Whitestone Shopping Center Secured With $75 Million Loan From Acadia Realty Trust
153-17 Cross Island Parkway
$75,000,000
$627/SF
Building Size
119,584 SF
Asset Type
Retail
Closing
Aug 17, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 153-17 Cross Island Parkway, Whitestone, encompassing a total area of 119,584 square feet. The acquisition and redevelopment of this shopping center is valued at $56 million, supported by a loan amounting to $75 million.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $56,000,000
- Loan Amount: $75,000,000
- Loan Type: Acquisition
- Address: 153-17 Cross Island Parkway
- Market: Whitestone
- Asset Size: 119,584 SF
- Lender: Acadia Realty Trust affiliate
- Landlord: BTF Whitestone LLC
- Broker: NorthMarq
An affiliate of Acadia Realty Trust is providing the significant mortgage financing for this acquisition and redevelopment project, facilitating the transformation of the Whitestone Shopping Center in Queens.
Players
Whitestone 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93