Updated Dec 4, 2024
Stellar Management Secures $34M Loan For Kew Gardens Multifamily
83rd Avenue, Kew Gardens, NY, USA
$34,000,000
$121/SF
Building Size
280,588 SF
Asset Type
MultiFamily
Closing
Apr 1, 2019
About this deal
AI
Larry Gluck and Alan Perlmutter have secured a loan of $34,000,000 for a multifamily property located at 123-133 83rd Ave in Kew Gardens, Queens. The loan was provided by Signature Bank. The property is owned by Stellar Management.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,000,000
- Lender: Signature Bank
- Landlord: Stellar Management
GCP Capital Partners, represented by Alan Perlmutter, acted as the broker for this deal.
The multifamily loan at 83rd Avenue, Kew Gardens, NY, USA in New York, New York financed for $34M in 2019. The building is 280,588 square feet, implying about 121 per square foot on the published price. Alan Perlmutter, Gcp Capital Group appear on the loan alongside Gcp Capital Group. This page is the New York, New York file for the 83rd Avenue, Kew Gardens, NY, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 83rd Avenue, Kew Gardens, NY, USA around 2019. Published consideration for 83rd Avenue, Kew Gardens, NY, USA is $34M, dated 2019. Cite this Stellar Management Secures $34M Loan For Kew Gardens Multifamily loan when underwriting similar multifamily product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93