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Flushing Bank Provides $4.57M Loan For Multifamily Property In Queens

Property Image
FINANCED
$4,575,000

New York

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MultiFamily25,980 SF
Financed 05/05/2021
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Property Image
FINANCED

Flushing Bank Provides $4.57M Loan For Multifamily Property In Queens

104-35 102nd Street, Jamaica, NY, USA

See Similar Deals
MultiFamily25,980 SF
Financed 05/05/2021
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$176
Total Square Footage:25,980 SF
Transaction Type:Loan

A multifamily property located at 104-35 102nd Street in Queens has recently undergone a closed transaction. The property, situated in the Queens market, was involved in a loan deal.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $4,575,000
  • Date: 05/05/2021
  • Lender: Flushing Bank
  • Landlord: Carmelle Bellefleur
  • Broker: Simon Rosenfeld - Meridian Capital Group

The loan amount for this transaction was $4,575,000. The loan terms include a 5-year duration and a fixed rate of 3.25%. The amortization period is set at 30 years.

Players

Flushing Bank
Flushing Bank
LENDER
CB
Carmelle Bellefleur
3 deals$14.2M volume
LANDLORD

Details

FINANCED
IMAGE: Simon Rosenfeld DATE: 05/05/2021 ADDRESS: 104-35 102nd Street MARKET: Queens ASSET TYPE: Multifamily LENDER: Flushing Bank LANDLORD: Carmelle Bellefleur BROKER: Simon Rosenfeld (@SomonRosenfeldNYC) - Meridian Capital Group LOAN AMOUNT: $4,575,000 LOAN TERMS: $4,575,000, 5 Year, Fixed Rate of 3.25%, 30 Year Amortization

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,575,000.00

Monthly NOI$30,500.00
Monthly Debt Service$28,917.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00