The Chetrit Group Acquires Multifamily Property In Queens For $200M
FINANCED
$200,000,000
New York
See Similar DealsMultiFamily933 SF
Financed 11/30/2020
FINANCED
The Chetrit Group Acquires Multifamily Property In Queens For $200M
15013 89th Ave, Jamaica, NY 11435, USA
See Similar DealsMultiFamily933 SF
Financed 11/30/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$214,362
Total Square Footage:933 SF
Transaction Type:Loan
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
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$200,000,000.00
Monthly NOI$1,333,333.33
Monthly Debt Service$1,264,136.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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