FINANCEDMultiFamily
Hirshmark Capital Provides $4M Refinance Loan For Multifamily Property In Long Island City
518 & 520 51st Avenue
$4,000,000
$333/SF
Building Size
12,000 SF
Asset Type
MultiFamily
Closing
Mar 31, 2023
AI
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 518 & 520 51st Avenue, Long Island City, Queens
- Market: Long Island City, Queens
- Square Footage: 12,000
- Units: 6
Players
Vero Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93