New York Community Bank Provides $12.4M Loan For Multifamily Buildings In Jamaica
138-42 90th Avenue, Jamaica, NY, USA
$12,396,000
$90/SF
Building Size
137,700 SF
Asset Type
MultiFamily
Closing
Feb 18, 2021
AI
Two properties, located at 138-42 90th Avenue and 153-19 89th Avenue in Jamaica, were involved in a recent closed transaction. The multifamily buildings were part of a loan deal facilitated by New York Community Bank.
Summary of transaction details
- Property Type: Multifamily
- Loan Amount: $12,396,000
- Units: 126
- Market: Jamaica
- Landlord: Chaim Schweid
New York Community Bank provided a loan of $12,396,000 for the acquisition of the two multifamily properties. The properties consist of a total of 126 units and are situated in the Jamaica market. Chaim Schweid is the landlord associated with this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93