Updated Dec 4, 2024
The Chetrit Group Acquires Multifamily Property In Queens For $200M
15013 89th Ave, Jamaica, NY 11435, USA
$200,000,000
$214,362/SF
Building Size
933 SF
Asset Type
MultiFamily
Closing
Nov 29, 2020
About this deal
AI
The multifamily property located at 150-13 89th Avenue in Queens has been sold in a closed transaction. The property consists of 481 units and the deal was facilitated by Henry Bodek of Galaxy Capital Group.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $200,000,000
- Lender: Square Mile Capital
- Landlord: The Chetrit Group
- Brokers: Henry Bodek - Galaxy Capital Group
The Chetrit Group acted as the landlord in this transaction. The loan amount provided by Square Mile Capital was $200,000,000. Henry Bodek, representing Galaxy Capital Group, played a key role in facilitating the deal. This transaction highlights the ongoing investment and activity in the Queens market.
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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93