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109 57 109th St

Updated Jul 29, 2026

Alma Bank Provides $3,700,000 Loan For MultiFamily Property In South Ozone Park
FINANCEDMultiFamily

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

Michael J. Gefter

Broker

$282.5M

vol

66 deals

Broker
Wolf Investment Partners
Wolf Investment PartnersBrokerage
Alma Bank
Alma BankLender

Kamaljit Singh

Landlord

$10M

vol

1 deal

Landlord

South Ozone Park MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $60 per square foot on a published $3.7M for 60,715 square feet (2024).

Visit Michael J. Gefter to view all their deals.

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

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