Updated Oct 28, 2024
A&E Real Estate Refinances Flushing Multifamily Property With $54.6M Loan From Deutsche Bank
132-57 Sanford Avenue, Queens, New York 11355, United States
$54,600,000
Units
126
Asset Type
MultiFamily
Closing
Oct 24, 2022
About this deal
AI
The multifamily property located at 132-57 Sanford Avenue in Flushing, Queens recently underwent a refinancing transaction. The property consists of 126 units and is owned by A&E Real Estate. The loan for the refinancing was provided by Deutsche Bank in the amount of $54,600,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $54,600,000
- Address: 132-57 Sanford Avenue
- Market: Flushing, Queens
- Owner: A&E Real Estate
- Loan Type: Refinance
- Units: 126
Deutsche Bank served as the lender for this refinancing transaction, supporting the efforts of A&E Real Estate to optimize the financial position of their multifamily property.
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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93