Updated Jul 29, 2026
ICross Group Provides $24.7M Construction Loan For Queens Multifamily Property
134-16 35th Ave Queens, NY 11354, USA
$24,650,000
$316/SF
Building Size
78,000 SF
Asset Type
MultiFamily
Closing
Jun 20, 2023
About this deal
AI
A construction loan of $24,650,000 has been secured for a multifamily property located at 134-16 35th Avenue in Queens. The property spans approximately 78,000 square feet and consists of 69 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,650,000
- Address: 134-16 35th Avenue, Queens
- Market: Queens
- Landlord: Linzhong Zhuo
The lender for this construction loan is ICross Group, represented by Lily Guo.
The multifamily loan at 134-16 35th Ave Queens, NY 11354, USA in New York, New York financed for $24.7M in 2023. Reported inventory is 78,000 square feet across 69 units, or about 316 per square foot. Named participants on the 134-16 35th Ave Queens, NY 11354, USA loan are Linzhong Zhuo. This page is the New York, New York file for the 134-16 35th Ave Queens, NY 11354, 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 134-16 35th Ave Queens, NY 11354, USA around 2023. Published consideration for 134-16 35th Ave Queens, NY 11354, USA is $24.7M, dated 2023. Cite this ICross Group Provides $24.7M Construction Loan For Queens Multifamily Property 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
0.64%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93