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Malachite Group Secures $14.4M Acquisition Loan From Flushing Bank For Retail Properties In Rego Park

Property Image
FINANCED
$14,400,000

New York

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Retail88,500 SF
Financed 12/18/2025
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Property Image
FINANCED

Malachite Group Secures $14.4M Acquisition Loan From Flushing Bank For Retail Properties In Rego Park

95 05 63rd Drive, 94 14 63rd Drive & 94 14 63rd Drive

See Similar Deals
Retail88,500 SF
Financed 12/18/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$162
Total Square Footage:88,500 SF
Transaction Type:Loan

The transaction involved three retail properties located at 95-05 63rd Drive and 94-14 63rd Drive in Rego Park, Queens. The total square footage for the properties is 29,500, along with additional air rights of 43,400 square feet. The acquisition loan for the properties was structured at a loan amount of $14,400,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $14,400,000
  • Lender: Flushing Bank
  • Landlord: Manouchehr Malekan - Malachite Group
  • Asset Type: Retail
  • BSF: 72,900
  • Market: Rego Park, Queens

Malachite Group, represented by Rego Park Portfolio II LLC, facilitated the acquisition loan through Flushing Bank. The deal was focused on securing financing for the retail properties, enhancing Malachite Group's portfolio in the Rego Park market.

Players

Flushing Bank
Flushing Bank
LENDER
MG
Malachite Group
LANDLORD

Details

FINANCED
IMAGE: 12/18/2025 ADDRESS: 95-05 63rd Drive, 94-14 63rd Drive & 94-14 63rd Drive MARKET: Rego Park, Queens ASSET TYPE: Retail ~ BSF: 72,900 ~ SF: 29,500 LENDER: Flushing Bank LANDLORD: Manouchehr Malekan - Malachite Group LOAN AMOUNT: $14,400,000 LOAN TYPE: Acquisition NOTE: Malachite Group, through Rego Park Portfolio II LLC, secured a $14.4 million acquisition loan from Flushing Bank for three retail properties in Rego Park, Queens, totaling 29,500 sq ft with 43,400 sq ft of additional air rights.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$14,400,000.00

Monthly NOI$96,000.00
Monthly Debt Service$91,017.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00