New York Community Bank Refinances Multifamily Property In Queens For $22M
18-22 21st Avenue, Queens, New York 11105, United States
$22,026,000
$139/SF
Building Size
158,193 SF
Asset Type
MultiFamily
Closing
Aug 10, 2022
AI
Located at 18-22 21st Avenue & 21-09 19th Street in Queens, this multifamily property spans approximately 158,193 square feet and consists of 210 units. The property was recently involved in a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,026,000
- Address: 18-22 21st Avenue & 21-09 19th Street
- Market: Queens
- Loan Type: Refinance
The loan for this transaction was provided by New York Community Bank. The landlord of the property is Cammeby’s International Group, represented by Eli Schron.
Players
New York 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93