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Ridgewood Savings Bank Provides $25.5M Refinance Loan For Multifamily Property In Flushing

Property Image
FINANCED
$25,500,000

New York

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MultiFamily155,643 SF
Financed 10/28/2022
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Property Image
FINANCED

Ridgewood Savings Bank Provides $25.5M Refinance Loan For Multifamily Property In Flushing

142-01 41st Avenue

See Similar Deals
MultiFamily155,643 SF
Financed 10/28/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$163
Total Square Footage:155,643 SF
Transaction Type:Loan

A multifamily property located at 142-01 41st Avenue & 142-19 Barclay Avenue in Flushing has been refinanced. The property spans approximately 155,643 square feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $25,500,000
  • Loan Type: Refinance
  • Loan Terms: 10 Year

The lender for this refinancing transaction is Ridgewood Savings Bank, while Steve Krumholz is the landlord. Acting on behalf of the parties involved, Adam L. Kaplan, Esq. from GCP Capital Group facilitated the deal.

Note from broker: "Lawyers Do It Better!"

Contact Adam L. Kaplan, Esq., Managing Director at GCP Capital Group, LLC for further information. He can be reached at (516) 487-5900, Ext 138 or [email protected].

Players

Adam Kaplan
Scouter Capital
Adam Kaplan
6 deals$86.8M volume
BROKER
Adam Kaplan
Scouter Capital
Adam Kaplan
6 deals$86.8M volume
BROKER
Gcp Capital Group
Gcp Capital Group
BROKERAGE

Details

FINANCED
IMAGE: Adam L. Kaplan DATE: 10/28/2022 ADDRESS: 142-01 41st Avenue & 142-19 Barclay Avenue MARKET: Flushing ASSET TYPE: Multifamily ~ SF: 155,643 LENDER: Ridgewood Savings Bank (@RidgewoodBank) LANDLORD: Steve Krumholz BROKER: Adam L. Kaplan, Esq (@AdamKaplanCRE) - GCP Capital Group LOAN AMOUNT: $$25,500,000 LOAN TYPE: Refinance LOAN TERMS: 10 Year NOTE FROM BROKER: Lawyers Do It Better! Adam L. Kaplan, Esq. Managing Director GCP Capital Group, LLC (516) 487-5900, Ext 138 [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,500,000.00

Monthly NOI$170,000.00
Monthly Debt Service$161,177.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00