Citi Bank Provides $24.5 Million Acquisition Loan For Retail Asset In Flushing
FINANCED
$24,500,000
New York
See Similar DealsRetail34,000 SF
Financed 01/27/2025
FINANCED
Citi Bank Provides $24.5 Million Acquisition Loan For Retail Asset In Flushing
39 09 Main Street & 39 11 Main Street
See Similar DealsRetail34,000 SF
Financed 01/27/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$720
Total Square Footage:34,000 SF
Transaction Type:Loan
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: Premier Equities - Yaron Jacobi
- Broker: Cary Pollack - Meridian Capital Group
- Date of Transaction: 01/27/2025
The key individuals involved in this deal include Yaron Jacobi, representing Premier Equities, 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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,500,000.00
Monthly NOI$163,333.33
Monthly Debt Service$154,856.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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