Updated Oct 29, 2024
Zara Realty Acquires Multifamily Property In Jamaica, Queens With $54M Loan From The Northern Trust Company
166-33 89th Avenue, Queens, NY, USA
$54,000,000
$543/SF
Building Size
99,344 SF
Asset Type
MultiFamily
Closing
Dec 2, 2020
About this deal
AI
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.
On the Map
$54,000,000
$543/SF
MultiFamily
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Players
Queens 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93