Investors Bank Refinances $85M Loan For Retail Property On Jamaica Ave

162-10 Jamaica Ave, Jamaica, NY 11432

$85,000,000

$1,332/SF

Building Size

63,777 SF

Asset Type

Retail

Closing

Dec 16, 2021

AI

The recently closed transaction involved a retail property located at 162-10 Jamaica Ave. in the Jamaica market. This property spans across 63,777 square feet.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $85,000,000

Investors Bank provided the loan for this transaction, which amounted to $85,000,000. The loan type was a refinance. The title agency involved in the deal was @TownTitleAgency.

Players

Investors BankLender

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93