Citi Bank Provides $24.5 Million Acquisition Loan For Retail Asset In Flushing
39 09 Main Street & 39 11 Main Street
$24,500,000
$720/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Jan 27, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 39-09 Main Street in Flushing, with a total square footage of 17,000. The loan amount for this acquisition is $24,500,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,500,000
- Lender: Citi Bank
- Landlord:
- Broker: Cary Pollack - Meridian Capital Group
- Date of Transaction: 01/27/2025
The key individuals involved in this deal include , representing , and Cary Pollack from Meridian Capital Group, who acted as the broker for this transaction. The collaboration facilitated the acquisition process in the Flushing market.
On the Map
$24,500,000
$720/SF
Retail
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Flushing 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93