Updated Feb 16, 2024
Bank Of Hope Provides $58.5M Loan For Multifamily Property In Astoria
12-15 Broadway, Astoria, NY, USA
$58,500,000
$405/SF
Building Size
144,303 SF
Asset Type
MultiFamily
Closing
Jul 29, 2021
About this deal
AI
The multifamily property located at 12-15 Broadway in Astoria has been involved in a recent real estate transaction. The property spans across a total area of 144,303 square feet and consists of 214 units. The transaction took place on 07/30/2021 and involved a loan from Bank of Hope.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $58,500,000
- Address: 12-15 Broadway
- Market: Astoria
David Lubianitsky is the landlord of the property. The loan amount provided by Bank of Hope was $58,500,000. The transaction signifies the involvement of various key individuals and companies, highlighting the collaboration between David Lubianitsky as the landlord and Bank of Hope as the lender.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93