Updated Jul 29, 2026
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
56,172 SF
Asset Type
MultiFamily
Closing
Aug 19, 2022
About this deal
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.
The multifamily loan at 113 02 Atlantic Avenue in South Richmond Hill, New York financed for $17.1M in 2022. The building is 337,032 square feet, implying about 50 per square foot on the published price. Named participants on the 113 02 Atlantic Avenue loan are Kamaljit Singh, Michael J. Gefter. This page is the South Richmond Hill, New York file for the 113 02 Atlantic Avenue multifamily financed: pricing, party profiles, and other closed multifamily comps from the same South Richmond Hill sit in the Market section below. Filter that South Richmond Hill multifamily set by closing date to see what else financed near 113 02 Atlantic Avenue around 2022. Published consideration for 113 02 Atlantic Avenue is $17.1M, dated 2022. Cite this Michael J. Gefter Secures $17,095,000 Loan For MultiFamily Asset In South Richmond Hill loan when underwriting similar multifamily product around South Richmond Hill, New York.
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