Updated Oct 29, 2024
Ariel Yacobi's GWRE Partners Secures $3.4M Loan For Ridgewood, Queens Multifamily
1826 George St, Ridgewood, Queens County, NY, USA
$3,400,000
$615/SF
Building Size
5,520 SF
Asset Type
MultiFamily
Closing
Sep 4, 2019
About this deal
AI
A multifamily property located at 1826 George St & 868 Woodward Ave in Ridgewood, Queens, was recently involved in a loan transaction. The property consists of 18 units and is owned by Ariel Yacobi of GWRE Partners. The loan, worth $3,400,000, was provided by New York Community Bank. The deal was facilitated by Abe Mann of Progress Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Address: 1826 George St & 868 Woodward Ave, Ridgewood, Queens
- Market: Ridgewood, Queens
- Landlord: Ariel Yacobi - GWRE Partners
- Loan Lender: New York Community Bank
- Broker: Abe Mann - Progress Capital
- Units: 18
The key individuals involved in this loan transaction are Ariel Yacobi, the landlord and owner of the multifamily property, and Abe Mann of Progress Capital, who represented the deal as the broker. New York Community Bank provided the loan to finance the property.
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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93