Genovese Family Enterprises Refinances Mixed-Use Building In Astoria With $7.5 Million From Maspeth Federal Savings
30 97 Steinway Street
$7,500,000
$276/SF
Building Size
27,112 SF
Asset Type
Mixed-use
Closing
Jan 13, 2026
About this deal
AI
Genovese Family Enterprises refinanced a mixed-use retail building located at 30-97 Steinway Street in Astoria, Queens. The asset encompasses a total square footage of 27,112 and was secured with a loan amount of $7,500,000, which replaced a prior debt of $11.1 million from M&T Bank.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,500,000
- Lender: Maspeth Federal Savings
- Landlord: Genovese Family Enterprises
- Loan Type: Refinance
- Prior Debt: $11.1 million from M&T Bank
The refinancing deal involved key parties including Maspeth Federal Savings as the lender and Genovese Family Enterprises representing the landlord. This transaction illustrates their strategic financial management in asset restructuring.
On the Map
$7,500,000
$276/SF
Mixed-use
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Players
Astoria Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93