Berkshire Residential Investments Provides $30M Loan For Multifamily Property In Jamaica
148-37 88th Avenue, Jamaica, NY, USA
$30,000,000
$308/SF
Building Size
97,288 SF
Asset Type
MultiFamily
Closing
Feb 28, 2021
AI
The multifamily property located at 148-37 88th Avenue in Jamaica has been involved in a recent transaction. The property spans a total square footage of 97,288 and comprises a total of 109 units. The transaction took place on 03/01/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Loan: Berkshire Residential Investments
- Landlord: Century Development Group
- Image: George Xu
The loan amount for this transaction was $30,000,000. Berkshire Residential Investments provided the loan, while Century Development Group acted as the landlord.
Players
New York 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93