Updated Oct 15, 2026
Marx Development Group Secures $5 Million Refinance Loan From Metropolitan Commercial Bank In Flushing
145-16 34th Avenue
$5,000,000
$105/SF
Building Size
47,516 SF
Asset Type
MultiFamily
Closing
Sep 24, 2026
About this deal
AI
A 35-unit residential building located at 145-16 34th Avenue in Flushing, Queens has a square footage of 47,516. The property is associated with a refinancing loan transaction amounting to $5 million, under the asset type classified as MultiFamily.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $5,000,000
- Lender: Metropolitan Commercial Bank
- Landlord: David E. Marx - Marx Development Group
- Loan Type: Refinance
David E. Marx, representing Marx Development Group, secured the refinancing loan for the property, facilitating financial support for the residential building's operations and improvements.
On the Map
$5,000,000
$105/SF
MultiFamily
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Players
Avenue 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93