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Bank Of Hope Provides $58.5M Loan For Multifamily Property In Astoria

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FINANCED
$58,500,000

New York

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MultiFamily144,303 SF
Financed 07/30/2021
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Property Image
FINANCED

Bank Of Hope Provides $58.5M Loan For Multifamily Property In Astoria

12-15 Broadway, Astoria, NY, USA

See Similar Deals
MultiFamily144,303 SF
Financed 07/30/2021
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$405
Total Square Footage:144,303 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: 07/30/2021 ADDRESS: 12-15 Broadway MARKET: Astoria ASSET TYPE: Multifamily LENDER: Bank of Hope LANDLORD: David Lubianitsky LOAN AMOUNT: $58,500,000 SF: 144,303 UNITS: 214

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$58,500,000.00

Monthly NOI$390,000.00
Monthly Debt Service$369,759.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00