Blumenfeld Development Group Refinances Jackson Heights Retail Property For $22.5M
71-01 25th Avenue, Queens, New York 11370, United States
$22,500,000
$169/SF
Building Size
132,944 SF
Asset Type
Retail
Closing
Apr 26, 2022
About this deal
AI
The property involved in this transaction is a retail asset located at 71-01 & 72-15 25th Avenue in Jackson Heights. It has a total square footage of 132,944 and is owned by the Blumenfeld Development Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $22,500,000
- Loan Type: Refinance
The lender for this transaction is the NYS Common Retirement Fund. Edward Blumenfeld, representing the Blumenfeld Development Group, was the landlord in this deal.
The retail loan at 71-01 25th Avenue, Queens, New York 11370, United States in New York, New York financed for $22.5M in 2022. The building is 132,944 square feet, implying about 169 per square foot on the published price. This page is the New York, New York file for the 71-01 25th Avenue, Queens, New York 11370, United States retail financed: pricing, party profiles, and other closed retail comps from the same New York sit in the Market section below. Filter that New York retail set by closing date to see what else financed near 71-01 25th Avenue, Queens, New York 11370, United States around 2022. Published consideration for 71-01 25th Avenue, Queens, New York 11370, United States is $22.5M, dated 2022. Cite this Blumenfeld Development Group Refinances Jackson Heights Retail Property For $22.5M loan when underwriting similar retail product around New York, New York.
Players
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Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93