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Jian Wu Chen & Xiao Chu Zhou Secure $9M Acquisition Loan For Retail Building

Property Image
FINANCED
$9,000,000

New York

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Retail16,539 SF
Financed 04/30/2024
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Property Image
FINANCED

Jian Wu Chen & Xiao Chu Zhou Secure $9M Acquisition Loan For Retail Building

45-01 82nd Street

See Similar Deals
Retail16,539 SF
Financed 04/30/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$544
Total Square Footage:16,539 SF
Transaction Type:Loan

The retail building located at 45-01 82nd Street in Elmhurst, Queens, with a total square footage of 16,539 and a building square footage of 66,400, was the subject of an acquisition loan. Jian Wu Chen & Xiao Chu Zhou, the landlords, secured a $9 million loan from CTBC Bank for this property.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $9,000,000
  • Asset Type: Retail
  • Address: 45-01 82nd Street
  • Market: Elmhurst, Queens
  • Lender: CTBC Bank
  • Landlord: Jian Wu Chen & Xiao Chu Zhou
  • Loan Type: Acquisition

Represented by US NY Group LLC, Jian Wu Chen and Xiao Chu Zhou successfully secured the $9 million acquisition loan from CTBC Bank. The transaction involved the strategic collaboration between the landlords and the lending institution, facilitating the acquisition of the retail building in Elmhurst, Queens.

Players

CTBC Bank
CTBC Bank
LENDER

Details

FINANCED
IMAGE: 04/30/2024 ADDRESS: 45-01 82nd Street MARKET: Elmhurst, Queens ASSET TYPE: Retail ~ BSF: 66,400 ~ SF: 16,539 LENDER: CTBC Bank LANDLORD: Jian Wu Chen & Xiao Chu Zhou LOAN AMOUNT: $9,000,000 LOAN TYPE: Acquisition NOTE: Jian Wu Chen and Xiao Chu Zhou, represented by US NY Group LLC, secured a $9 million acquisition loan from CTBC Bank for the retail building at 45-01 82nd Street in Elmhurst, Queens.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,000,000.00

Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00