Updated Oct 29, 2024
Russell Nova & Alexander Nemirovskiy Secure $11.75M Loan For Astoria Multifamily Property
12-26 30th Ave, Astoria, Queens, NY, USA
$11,750,000
$295/SF
Building Size
39,745 SF
Asset Type
MultiFamily
Closing
Jan 4, 2021
About this deal
AI
The loan for the multifamily property located at 12-26 30th Ave in Astoria, Queens was secured through Fannie Mae. The loan amount was $11,750,000, with a 12-year fixed term and a 30-year amortization schedule.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,750,000
- Lender: Fannie Mae
- Brokers: Russell Nova @RussellNova & Alexander Nemirovskiy @Alex_Nemy from Cornerstone Capital of NY
Russell Nova and Alexander Nemirovskiy, representing Cornerstone Capital of NY, were instrumental in securing the loan and facilitating the transaction. Their expertise and knowledge in the market provided the buyer with a long-term investment opportunity. For more information, contact Russell Nova at 917-559-1820 or Alexander Nemirovskiy at 347-751-5232.
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
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93