Berkshire Residential Investments Provides $30M Loan For Multifamily Property In Jamaica
FINANCED
$30,000,000
New York
See Similar DealsMultiFamily97,288 SF
Financed 03/01/2021
FINANCED
Berkshire Residential Investments Provides $30M Loan For Multifamily Property In Jamaica
148-37 88th Avenue, Jamaica, NY, USA
See Similar DealsMultiFamily97,288 SF
Financed 03/01/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$308
Total Square Footage:97,288 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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