Arker Companies Refinances Multifamily Property In Far Rockaway For $78.4M
FINANCED
$78,400,000
New York
See Similar DealsMultiFamily
FINANCED
Arker Companies Refinances Multifamily Property In Far Rockaway For $78.4M
14-10 New Haven Avenue, Queens, New York 11691, United States
See Similar DealsMultiFamily
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 14-10 New Haven Avenue, 249 Beach 15th Street & 14-03 Heyson Road in Far Rockaway, Queens has undergone a loan refinance transaction. The property consists of 329 units and was refinanced for a loan amount of $78,400,000 by Merchants Capital. The landlord of the property is Arker Companies, represented by Daniel Moritz, Alex Arker, and Allan Arker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $78,400,000
- Address: 14-10 New Haven Avenue, 249 Beach 15th Street & 14-03 Heyson Road
- Market: Far Rockaway, Queens
- Units: 329
- Lender: Merchants Capital
- Landlord: Arker Companies - Daniel Moritz, Alex Arker & Allan Arker
The loan refinance deal was facilitated by Merchants Capital, a lending institution. The landlord of the property, Arker Companies, was represented by Daniel Moritz, Alex Arker, and Allan Arker in the transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$78,400,000.00
Monthly NOI$522,666.67
Monthly Debt Service$495,541.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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