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Skyland Management Secures $14M Refinancing Loan For Merrick Boulevard Multifamily
FINANCED
$14,000,000
New York
See Similar DealsMultiFamily118,566 SF
Financed 06/07/2023
FINANCED
Skyland Management Secures $14M Refinancing Loan For Merrick Boulevard Multifamily
109-15 Merrick Blvd Queens, NY 11433, USA
See Similar DealsMultiFamily118,566 SF
Financed 06/07/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$118
Total Square Footage:118,566 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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