Michael J. Gefter Secures $17,095,000 Loan For MultiFamily Asset In South Richmond Hill
113 02 Atlantic Avenue, 109 57 109th St, 111 02 110th St, 109 03 Rockaway Blvd, 109 17 Rockaway Blvd & 109 19 Rockaway Blvd
$17,095,000
$50/SF
Building Size
337,032 SF
Asset Type
MultiFamily
Closing
Aug 19, 2022
AI
The asset involved in this transaction is a MultiFamily property located at 113 02 Atlantic Avenue in the South Richmond Hill market. This property secured a loan amounting to $17,095,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $17,095,000.00
- Address: 113 02 Atlantic Avenue
- Market: South Richmond Hill
- Brokers: Michael J. Gefter
Michael J. Gefter is the broker associated with this transaction, representing the landlord in the deal. The transaction was completed on 08/19/2022.
Players
South Richmond Hill 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93