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109 10 Queens Boulevard

Abro Management Refinances 121-Unit Multifamily At 109-10 Queens Boulevard For $13.3M
FINANCEDMultiFamily

Abro Management Refinances 121-Unit Multifamily At 109-10 Queens Boulevard For $13.3M

109 10 Queens Boulevard

$13,300,000

$152/SF

Building Size

87,305 SF

Asset Type

MultiFamily

Closing

Oct 5, 2025

AI

The asset involved in this transaction is a multi-family residential building located at 109-10 Queens Boulevard in Forest Hills, Queens. This property encompasses a total square footage of 87,305 and consists of 121 residential units. Abro Management is the owner of the property, which has undergone refinancing to secure a loan amount of $13,300,000 with J.P. Morgan Chase.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $13,300,000
  • Asset Address: 109-10 Queens Boulevard
  • Market: Forest Hills, Queens
  • Lender: J.P. Morgan Chase
  • Landlord: Martin Scharf & Richard Scharf - Abro Management
  • Loan Type: Refinance

Key individuals involved in this transaction include Martin Scharf and Richard Scharf, who represent Abro Management as landlords of the property. The refinancing took place specifically for the residential building to optimize its financial structure through the new loan arrangement provided by J.P. Morgan Chase.

Players

J.P. Morgan Chase
J.P. Morgan ChaseLender

Richard Scharf

Abro Management

Landlord

$54.7M

vol

5 deals

Landlord

Forest Hills 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

1.19%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93