Mizuho Provides $289.5 Million Acquisition Loan For Retail Asset In Flushing, New York
40 24 College Point Boulevard
$289,500,000
$526/SF
Building Size
550,000 SF
Asset Type
Retail
Closing
Jan 8, 2026
About this deal
AI
The property asset involved in the transaction is located at 40-24 College Point Boulevard in Flushing, classified as retail, with a total square footage of 550,000. The loan amount obtained for this acquisition is $289,500,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $289,500,000
- Lender: Masahiro Kihara - Mizuho
- Landlord: Ken Bernstein - Acadia Realty & Jon Winkelried - TPG
- Landlord's Representative: Jordan Roeschlaub, Nick Scribani, John Caraviello & Tim Polglase - Newmark
Key individuals and entities involved in this transaction include Masahiro Kihara representing the lender, while Ken Bernstein and Jon Winkelried serve as the landlords. The transaction was facilitated through representatives from Newmark, which includes Jordan Roeschlaub, Nick Scribani, John Caraviello, and Tim Polglase.
On the Map
$289,500,000
$526/SF
Retail
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Players
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
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93