Roey Realty Refinances Multifamily Property In Astoria, Queens For $8.2M

The multifamily property located in Astoria, Queens has recently undergone a loan transaction. The property spans 16,000 square feet and is represented by Esti Broyde from Roey Realty. The loan amount for this transaction is $8,200,000, and it is a refinancing loan. The terms of the loan include a 5.25% fixed interest rate and a 5-year term. An earn-out provision is also included once the property is stabilized.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $8,200,000
• Loan Type: Refinance
• Loan Terms: 5.25% fixed rate, 5-year term, earn-out once stabilized

This transaction was facilitated by Esti Broyde from Roey Realty. It is evident that this loan transaction will provide the necessary financial support for the property's operations and future growth. Both the property owner and the lender are optimistic about the potential of this investment.