Updated Feb 16, 2024
Flushing Bank Provides $4.57M Loan For Multifamily Property In Queens
104-35 102nd Street, Jamaica, NY, USA
$4,575,000
$176/SF
Building Size
25,980 SF
Asset Type
MultiFamily
Closing
May 4, 2021
About this deal
AI
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.
On the Map
$4,575,000
$176/SF
MultiFamily
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Players
Ozone Park 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
3.47%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93