Kevin Zambrana Secures $3.1M Construction Loan From Rosenthal & Rosenthal For Astoria Development Site
31 45 14th Street & 31 47 14th Street
$3,100,000
$289/SF
Building Size
10,700 SF
Asset Type
Development Site
Closing
Dec 28, 2025
AI
The development site located at 31-45 14th Street & 31-47 14th Street in Astoria encompasses a total of 10,700 square feet and is intended for 9 units. The construction loan amount associated with this property is $3,100,000, facilitated by Rosenthal & Rosenthal.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,100,000
- Market: Astoria
- Asset Size: 10,700 SF
- Units: 9
- Lender: Rosenthal & Rosenthal
- Landlord: Kevin Zambrana
- Broker: Michael Volpe - Highcap Group
This transaction involved key individuals such as Kevin Zambrana, acting as the landlord, and Michael Volpe from Highcap Group representing the broker side of the deal, while retaining a unique role distinct from the lender and landlord in this construction loan arrangement.
Players
Astoria Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93