JEWEL CAPITAL ARRANGES $14,750,000 ACQUISITION LOAN IN FLUSHING, NY
JEWEL CAPITAL, a boutique commercial real estate finance and advisory firm, has arranged a $14,750,000 cash-out refinance loan secured by a one-story commercial building located in Flushing, New York. With a competitive interest rate fixed at 3.81%, this loan at 74.87% LTV was used to pay off existing mortgage of the subject property and to invest on other properties. In addition, the loan has a 10-year term with a 5-year reset on 25 year amortization.
The loan was arranged by Samuel W. Li, founder & CEO of Jewel Capital. According to Mr. Li, Jewel Capital’s sweet spot as real estate advisors for commercial mortgage or development projects is from $1M to $50M. The subject property, located in the Flushing neighborhood of Queens, NY is near the intersection between Main Street and the 41st Road. The property consists of one one-story commercial condominium building with 4 units totaling 7,600± square feet. The existing structure was built in 1979.
Flushing, the largest commercial and retail area and the fourth largest central business district in New York City, is served by five railroad stations operated by the Long Island Rail Road bounded to the Port Washington Branch, as well as the New York City Subway’s #7 line whose terminus at Main Street. The proposed site has very convenient accessibility from LaGuardia Airport, JFK International Airport, Manhattan and eastern Long Island. Within 15 minutes driving, people can get the intersection of Main Street and Roosevelt Avenue which is the third busiest intersection in New York City, after the Times Square and Herald Square. Flushing Chinatown is one of the largest and greatest growing ethnic Chinese communities outside of Asia. Expanding rapidly, the Flushing Chinatown now rivals Manhattan’s Chinatown for being the center of Chinese-speaking New Yorkers’ politics and trades. Resident’s median age was 40.2 and the median household annual income was $44,587 in 2011.
JEWEL CAPITAL is a boutique New York-based commercial real estate finance and advisory firm. By leverage our unique lender relationships developed over the years, we are able to provide our clients with tailored, best-in-class financing solutions primarily in the Greater New York metropolitan area. At Jewel Capital, we are committed to guide our clients through every step of the deal-making process, and we hope to add a “Personal Touch to Your Financing Needs”.
For more information about JEWEL CAPITAL, please contact:
Tel.: +1 (347) 535-1314 Ext. 101
Fax: +1 (347) 535-1314