George Roth Secures $1.35M Refinance Loan From Flushing Bank For 25-Unit Condo In Far Rockaway
156 Beach 9th Street
$1,350,000
$19/SF
Building Size
68,000 SF
Asset Type
Condo
Closing
Nov 19, 2025
About this deal
AI
A loan of $1,350,000 has been secured against a 25-unit fractured condominium located at 156 Beach 9th Street in the Far Rockaway market, with a total square footage of 68,000. The loan is a refinance type and has terms extending over 10 years.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $1,350,000
- Lender: Flushing Bank
- Landlord: George Roth
- Loan Type: Refinance
- Loan Terms: 10 Years
- Interest Rate: 6.25%
- Amortization: 30-Year
- Non-Recourse: Yes
- Release Prices for Individual Unit Sales: Yes
- Brokers: Jordan Gellman, Steven Edelstein & Isaac Filler - Filler Capital
This transaction involved Filler Capital, with brokers Jordan Gellman, Steven Edelstein, and Isaac Filler representing the landlord, George Roth, in securing this financing solution tailored for a fractured condominium scenario.
On the Map
$1,350,000
$19/SF
Condo
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Players
Far Rockaway Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93