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Ryan Lewis Of ERG Commercial Real Estate Secures $7 Million Construction Loan For Multifamily Asset In New York City

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FINANCED
$7,000,000

New York

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MultiFamily
Financed 03/28/2025
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Property Image
FINANCED

Ryan Lewis Of ERG Commercial Real Estate Secures $7 Million Construction Loan For Multifamily Asset In New York City

166 13 91st Avenue

See Similar Deals
MultiFamily
Financed 03/28/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in the transaction is a MultiFamily property located at 166 13 91st Avenue in New York City. The loan amount secured for this property is $7,000,000.00, designated for construction purposes.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $7,000,000.00
  • Loan Type: Construction
  • Date of Loan: 03/28/2025
  • Market: New York City
  • Broker: Ryan Lewis - ERG Commercial Real Estate

Ryan Lewis from ERG Commercial Real Estate represents the loan transaction for the MultiFamily property, facilitating the arrangement for the construction loan in this deal.

Players

Matthew Murphy
Matthew Murphy
7 deals$24.5M volume
BROKER

Details

FINANCED
IMAGE: Matthew Murphy DATE: 03/28/2025 ADDRESS: 166 13 91st Avenue MARKET: Jamaica, Queens ASSET TYPE: Multifamily ~ UNITS: 28 BROKER: Matthew Murphy - ERG Commercial Real Estate (@ERG_CommercialRealEstate) LOAN AMOUNT: $7,000,000 LOAN TYPE: Construction NOTE: ERG Commercial Real Estate secured a $7M construction loan from a middle-market lender for a 16-story, 28-unit multifamily project at 166-13 91st St., Jamaica, Queens.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00