Zara Realty Acquires Multifamily Property In Jamaica, Queens With $54M Loan From The Northern Trust Company
FINANCED
$54,000,000
New York
See Similar DealsMultiFamily99,344 SF
Financed 12/03/2020
FINANCED
Zara Realty Acquires Multifamily Property In Jamaica, Queens With $54M Loan From The Northern Trust Company
166-33 89th Avenue, Queens, NY, USA
See Similar DealsMultiFamily99,344 SF
Financed 12/03/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$543
Total Square Footage:99,344 SF
Transaction Type:Loan
The multifamily property located at 166-33 89th Avenue, 87-50 167th Street in Jamaica, Queens has recently undergone a closed transaction. This property is situated in a bustling market and is owned by Zara Realty, with George Subraj representing the company.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Lender: The Northern Trust Company
- Landlord: Zara Realty - George Subraj
- Image Link
The lender who facilitated this transaction was The Northern Trust Company. Zara Realty, represented by George Subraj, acted as the landlord in this deal. The loan amount involved in this transaction was $54,000,000.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$54,000,000.00
Monthly NOI$360,000.00
Monthly Debt Service$341,316.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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