Webster Bank Provides $9.9M Refinance Loan For Multifamily Property In Jamaica, Queens

A multifamily property located at 166-40 89th Avenue in Jamaica, Queens has recently undergone a refinancing transaction. The property spans a total of 76,060 square feet and falls under the multifamily asset type category.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,900,000
• Address: 166-40 89th Avenue
• Market: Jamaica, Queens
• Lender: Webster Bank
• Landlord: Pinchos Hoffman
• Loan Type: Refinance

This refinancing deal involved Webster Bank as the lender and Pinchos Hoffman as the landlord. The loan amount for this transaction was $9,900,000. The property, located at 166-40 89th Avenue in Jamaica, Queens, consists of a multifamily building with a total square footage of 76,060. This refinancing provides an opportunity for the property's owner, Pinchos Hoffman, to potentially leverage the property's value for further financial benefits.