Updated Jul 29, 2026
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
12,143 SF
Asset Type
MultiFamily
Closing
Jul 17, 2024
About this deal
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
The multifamily loan at 109 57 109th St in South Ozone Park, New York financed for $3.7M in 2024. The building is 60,715 square feet, implying about 60 per square foot on the published price. Named participants on the 109 57 109th St loan are Kamaljit Singh, Michael J. Gefter. This page is the South Ozone Park, New York file for the 109 57 109th St multifamily financed: pricing, party profiles, and other closed multifamily comps from the same South Ozone Park sit in the Market section below. Filter that South Ozone Park multifamily set by closing date to see what else financed near 109 57 109th St around 2024. Published consideration for 109 57 109th St is $3.7M, dated 2024. Cite this Alma Bank Provides $3,700,000 Loan For MultiFamily Property In South Ozone Park loan when underwriting similar multifamily product around South Ozone Park, New York.
Players
South Ozone Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Michael J. Gefter to view all their deals.
Browse South Ozone Park multifamily loans on Traded.
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