Updated Mar 11, 2025
J&C International Group Secures $14M Refinance Loan For Flushing Multifamily
131-19 Fowler Avenue
$14,000,000
$473/SF
Building Size
29,548 SF
Asset Type
MultiFamily
Closing
Aug 17, 2023
About this deal
AI
A $14 million refinance loan has been secured for a multifamily property located at 131-19 Fowler Avenue in Flushing, Queens. The property is a 30-unit residential elevator building spanning a total of 29,548 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 131-19 Fowler Avenue
- Market: Flushing, Queens
The lender for this transaction is Steward Wong from East West Bank, providing the refinance loan to the landlord, John Jun Xu of J&C International Group. The loan will allow J&C International Group to manage their property more effectively and potentially explore further investment opportunities. Fowler Develop LLC acted as the representative for J&C International Group in securing the loan.
The refinance loan will support J&C International Group in their efforts to optimize their property's financial performance and ensure a stable cash flow for the future. This transaction reflects the ongoing economic activity in the Flushing, Queens market and highlights the strong confidence in the potential growth of the multifamily sector in the area.
Players
Flushing 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93