Skyland Management Secures $14M Refinancing Loan For Merrick Boulevard Multifamily
109-15 Merrick Blvd Queens, NY 11433, USA
$14,000,000
$118/SF
Building Size
118,566 SF
Asset Type
MultiFamily
Closing
Jun 7, 2023
AI
The residential elevator building located at 109-15 Merrick Boulevard in Jamaica, Queens has secured a $14 million refinancing loan. The property is a multifamily asset with a total square footage of 118,566. The loan was obtained from Angel Oak Commercial Lending by Skyland Management.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Lender: Angel Oak Commercial Lending - Dolly Laubach
- Landlord: Skyland Management - Isaac Dabakaroff
- Address: 109-15 Merrick Boulevard, Jamaica, Queens
- Market: Jamaica, Queens
- Square Footage: 118,566
Skyland Management, represented by Isaac Dabakaroff, secured the $14 million refinancing loan from Angel Oak Commercial Lending for this residential elevator building in Jamaica, Queens.
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93