Citizens Private Bank Provides $13.25 Million Refinance Loan For Queens Retail Portfolio
FINANCED
$13,250,000
New York
See Similar DealsRetail
Financed 10/15/2025
FINANCED
Citizens Private Bank Provides $13.25 Million Refinance Loan For Queens Retail Portfolio
Retail
Financed 10/15/2025
Summary
Asset Type:Retail
Transaction Type:Loan
The Queens Retail Portfolio is situated in the Bayside / Forest Hills market and falls under the retail asset type. The loan involved in this transaction was a refinance amounting to $13,250,000, with terms set for a period of 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,250,000
- Loan Type: Refinance
- Loan Terms: 5 years
- Lender: Citizens Private Bank
- Broker: Brian Flax - Meridian Capital Group
Brian Flax represented Meridian Capital Group in this transaction, facilitating a non-recourse loan with a fixed rate below 6%, which was locked at application. This loan also featured a flexible prepayment structure.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,250,000.00
Monthly NOI$88,333.33
Monthly Debt Service$83,749.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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