Dime Community Bank Provides $29.5M Refinance Loan For Mixed-Use & Multifamily Properties In Queens & Manhattan
1128 3rd Avenue, New York City, New York 10065, United States
$29,500,000
Building Size
—
Asset Type
MultiFamily
Closing
May 24, 2022
AI
A loan for the properties located at 1128 3 Avenue, 239 West 72 Street, 136-42 Maple Avenue, and 108-20 62 Drive has been refinanced. The properties are a mix of mixed-use and multifamily buildings situated in Queens and Manhattan. The loan, provided by Dime Community Bank, is in the amount of $29,500,000.
Summary of transaction details:
- Property Type: Mixed-Use & Multifamily
- Transaction Amount: $29,500,000
- Market: Queens & Manhattan
The individuals involved in this transaction are Isaac Filler, Yossi Koschitzki, and Elliot Levy from Meridian Capital Group, who acted as brokers. They represented the borrowers in securing the refinancing loan from Dime Community Bank.
Players
New York 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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93