Updated Sep 5, 2024
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
About this deal
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
The multifamily loan at 518 & 520 51st Avenue in Vero Beach, Florida financed for $4M in 2023. Reported inventory is 12,000 square feet across 6 units, or about 333 per square foot. Matthew (Matt) Albano, Gcp Capital Group appear on the loan alongside Gcp Capital Group. This page is the Vero Beach, Florida file for the 518 & 520 51st Avenue multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Vero Beach sit in the Market section below. Filter that Vero Beach multifamily set by closing date to see what else financed near 518 & 520 51st Avenue around 2023. Published consideration for 518 & 520 51st Avenue is $4M, dated 2023. Cite this Hirshmark Capital Provides $4M Refinance Loan For Multifamily Property In Long Island City loan when underwriting similar multifamily product around Vero Beach, Florida.
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