Aditya Shah And Ridwan Kabir Secure $53 Million Construction Loan For Multifamily Asset In Jamaica
166-10 Hillside Avenue
$53,000,000
$311/SF
Building Size
170,443 SF
Asset Type
MultiFamily
Closing
Jun 23, 2026
AI
The property asset involved in this transaction is a multifamily building located at 166-10 Hillside Avenue in Jamaica. It consists of 170,443 square feet and contains 99 units, highlighting its significant scale and potential for rental income.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,000,000
- Loan Type: Construction
- Loan Terms: 2 years plus 1 year extension
- Lender: Yanni Kouzilos & Douglas Romero - Ponce Bank
- Landlord: Aditya Shah - Everywhere Development & Ridwan Kabir - AAAA Construction
The transaction features key individuals including Yanni Kouzilos and Douglas Romero, representatives from Ponce Bank, overseeing the financial aspects of the deal. Additionally, Aditya Shah from Everywhere Development and Ridwan Kabir from AAAA Construction play crucial roles as landlords in this development project.
Players
Market 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93