Bank Hapoalim Provides $23.2M Refinance Loan For Retail Property In Ditmars Steinway
21-01 31st Street, Queens, New York 11101, United States
$23,200,000
$1,267/SF
Building Size
18,310 SF
Asset Type
Retail
Closing
Jul 24, 2022
About this deal
AI
RockFarmer Properties has secured a refinancing loan for a retail property located at 21-01, 21-07 & 21-13 31st Street in Ditmars Steinway, with a total square footage of 18,310. The loan amount provided by Bank Hapoalim is $23,200,000.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,200,000
- Address: 21-01, 21-07 & 21-13 31st Street
- Market: Ditmars Steinway
- Loan Type: Refinance
RockFarmer Properties, the landlord, successfully secured the loan from Bank Hapoalim for the retail property at 21-01, 21-07 & 21-13 31st Street in Ditmars Steinway. The loan amount of $23,200,000 will allow RockFarmer Properties to refinance the property.
Players
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Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93