Ryan Lewis Of ERG Commercial Real Estate Secures $7 Million Construction Loan For Multifamily Asset In New York City
166 13 91st Avenue
$7,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 28, 2025
AI
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
Jamaica 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93