Updated Feb 21, 2025
Prime Finance Provides $14.9M Acquisition Loan For Multifamily Property In Long Island City
11-55 45th Avenue
$14,971,841
$332,707/SF
Building Size
45 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
An acquisition loan has been secured for a multifamily property located at 11-55 45th Ave in Long Island City. The property spans approximately 45,707 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,971,841
- Address: 11-55 45th Ave
- Market: Long Island City
The loan, provided by Prime Finance, will be used to facilitate the acquisition. The landlord involved in the transaction is PEAK Capital, represented by Alex Rabin and David Gomez. The brokers responsible for the deal are Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm, from Newmark.
On the Map
$14,971,841
$332,707/SF
MultiFamily
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Players
Flushing 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93