Feil Organization Secures $25M Refinance Loan For Retail Building At 255-01 Union Turnpike In Glen Oaks, Queens
255-01 Union Tpke Queens, NY 11004, USA
$25,000,000
$107/SF
Building Size
231,865 SF
Asset Type
Retail
Closing
May 31, 2023
About this deal
AI
The Feil Organization has secured a $25 million refinancing loan from M&T Bank for the retail building located at 255-01 Union Turnpike in Glen Oaks, Queens. The property is a retail asset with a total area of 231,865 square feet. The loan was provided by M&T Bank, represented by Tyler Barnes.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $25,000,000
- Address: 255-01 Union Turnpike
- Market: Glen Oaks, Queens
- Lender: M&T Bank - Tyler Barnes
- Landlord: Feil Organization - Jeffrey J. Feil
Jeffrey J. Feil, representing the Feil Organization, facilitated the refinancing loan from M&T Bank. This transaction reinforces the strong financial position of the Feil Organization and their commitment to the Glen Oaks retail market.
Players
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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93