Blumenfeld Development Group Refinances Jackson Heights Retail Property For $22.5M
FINANCED
$22,500,000
New York
See Similar DealsRetail132,944 SF
Financed 04/27/2022
FINANCED
Blumenfeld Development Group Refinances Jackson Heights Retail Property For $22.5M
71-01 25th Avenue, Queens, New York 11370, United States
See Similar DealsRetail132,944 SF
Financed 04/27/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$169
Total Square Footage:132,944 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,500,000.00
Monthly NOI$150,000.00
Monthly Debt Service$142,215.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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