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140-02 Franklin Avenue, Que...

Bronstein Properties Refinances Multifamily Portfolio In Flushing, Gravesend, Briarwood & Kew Gardens For $36.6M
FINANCEDMultiFamily

Bronstein Properties Refinances Multifamily Portfolio In Flushing, Gravesend, Briarwood & Kew Gardens For $36.6M

140-02 Franklin Avenue, Queens, New York 11355, United States

$36,582,136

Building Size

Asset Type

MultiFamily

Closing

Oct 16, 2022

AI

A multifamily property located at 140-02 Franklin Avenue in Flushing, 1780 West 3rd Street in Gravesend, 135-16 82nd Avenue in Briarwood, and 85-25 120th Street in Kew Gardens has undergone a loan refinance. The loan amount for this transaction was $36,582,136. The lender for this refinance is New York Community Bank, represented by Alan L. Kaufman. The landlord of the property is Bronstein Properties, represented by Barry Rudofsky. The property is situated in a market that encompasses Flushing, Gravesend, Briarwood, and Kew Gardens.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $36,582,136
  • Lender: New York Community Bank - Alan L. Kaufman
  • Landlord: Bronstein Properties - Barry Rudofsky

This loan refinance was facilitated by New York Community Bank, with Alan L. Kaufman representing the bank in the deal. Bronstein Properties, led by Barry Rudofsky, served as the landlord for this multifamily property located in Flushing, Gravesend, Briarwood, and Kew Gardens market.

Players

James Miller

Sotheby's International Realty

Broker

$47.1M

vol

2 deals

Broker
New York Community Bank
New York Community BankLender
Barry Rudofsky

Barry Rudofsky

Bronstein Properties

Landlord

$75.5M

vol

6 deals

Landlord

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

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93