Updated Nov 27, 2024
Berkadia Provides $22.6M Loan For Multifamily Property On Seagirt Blvd. In Far Rockaway
1915 Seagirt Blvd, Far Rockaway, NY, USA
$22,600,000
$187/SF
Building Size
120,278 SF
Asset Type
MultiFamily
Closing
Jul 8, 2021
About this deal
AI
The multifamily property located at 1915 Seagirt Blvd. in Far Rockaway has been involved in a recent loan transaction. The loan was provided by berkadia''>Berkadia, with Laura Smith representing the lender. The loan amount for this transaction was $22,600,000. The property spans across 120,278 square feet and consists of 152 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,600,000
- Address: 1915 Seagirt Blvd.
- Market: Far Rockaway
- Lender: Berkadia - Laura Smith
- Landlord: JASA - Donald Manning
- Square Footage: 120,278
- Units: 152
JASA, represented by Donald Manning, serves as the landlord for this property. This loan transaction highlights the collaboration between JASA as the landlord and the lender Berkadia, with Laura Smith as their representative.
Players
Far Rockaway MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Donald Manning to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93