Alma Bank Provides $3,700,000 Loan For MultiFamily Property In South Ozone Park
109 57 109th St, 111 02 110th St, 109 03 Rockaway Blvd, 109 17 Rockaway Blvd & 109 19 Rockaway Blvd
$3,700,000
$60/SF
Building Size
60,715 SF
Asset Type
MultiFamily
Closing
Jul 17, 2024
AI
The asset involved in this transaction is a MultiFamily property located at 109 57 109th St, situated in the South Ozone Park market. The loan amount associated with this property is $3,700,000.00, and the lending institution for this transaction is Alma Bank.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,700,000.00
- Address: 109 57 109th St
- Market: South Ozone Park
- Lender: Alma Bank
- Broker: Michael J. Gefter
Players
South 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
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93