Benjamin Companies And Beechwood Homes Refinance Retail Properties In Arverne Queens For $11 Million
70 20 Rockaway Beach Boulevard
$11,000,000
Building Size
—
Asset Type
Retail
Closing
May 1, 2025
About this deal
AI
The properties involved in this transaction are located at 70-20 Rockaway Beach Boulevard and 301 Beach 67th Street in the Arverne neighborhood of Queens. The asset type is retail, and the transaction involved refinancing with a loan amount of $11,000,000.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $11,000,000
- Lender: TD Bank
- Landlord: Denise R. Coyle - Benjamin Companies & Michael Dubb - Beechwood Homes
- Loan Type: Refinance
Benjamin Companies and Beechwood Homes executed the refinancing of the two retail properties, effectively replacing the existing debt that was previously held by U.S. Bank.
On the Map
$11,000,000
Retail
View full map
Players
Arverne Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Browse Arverne retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93