Michael J. Gefter Of Alma Bank Provides $10,700,000 Loan For MultiFamily In South Richmond Hill
113 02 Atlantic Avenue
$10,700,000
$243/SF
Building Size
44,029 SF
Asset Type
MultiFamily
Closing
Jul 17, 2024
AI
The asset involved in the transaction is a MultiFamily property located at 113 02 Atlantic Avenue in South Richmond Hill. The loan amount for this transaction is $10,700,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $10,700,000.00
- Address: 113 02 Atlantic Avenue
- Market: South Richmond Hill
- Lender: Alma Bank
- Broker: Michael J. Gefter
The key individuals involved in this transaction include Michael J. Gefter, who represents the landlord in this deal, and Alma Bank, acting as the lender providing the loan for the transaction.
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
1.48%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93