Chase Bank Provides $5.575M Refinance Loan For Flushing Multifamily Property
134-17 Cherry Avenue
$5,575,000
$79/SF
Building Size
70,000 SF
Asset Type
MultiFamily
Closing
Oct 13, 2023
AI
Located at 134-17 Cherry Avenue in Flushing, Queens, this multifamily property spans approximately 70,000 square feet and consists of 75 units. The property was recently involved in a refinancing transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,575,000
- Address: 134-17 Cherry Avenue, Flushing, Queens
- Market: Flushing, Queens
- Square Footage: 70,000
- Units: 75
The lender for this transaction was Chase Bank, while the landlord is the Cheng Family. The brokers involved in this deal were Avi Eyal and Joshua Pollack from FM Capital.
For more information on this refinancing transaction or to discuss any financing needs, interested parties can contact Avi Eyal at [email protected].
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
2.85%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93