NewmarkKF Arranges $269.1M Loan For Multifamily Property In Queens With Blackstone As Landlord
104-20 Queens Boulevard, Forest Hills, NY 11375
$269,100,000
$26/SF
Building Size
9,999,999 SF
Asset Type
MultiFamily
Closing
Nov 18, 2018
AI
The multifamily property located at 104-20 Queens Boulevard in Queens has been involved in a recent loan transaction. The property consists of 1,327 units, making it a significant asset in the market. The loan amount secured for this transaction was $269,100,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $269,100,000
- Address: 104-20 Queens Boulevard
- Market: Queens
- Units: 1,327
The loan was provided by Newmark Knight Frank, while the landlord for the property is Blackstone. The deal was facilitated by Jordan Roeschlaub, Dustin Stolly, and Stephan Gianopolus, representing Newmark Knight Frank as brokers.
Players
New York 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93