Blue Foundry Bank Provides $4.4M Loan For Rockaway Park Multifamily Acquisition
FINANCED
$4,415,000
New York
See Similar DealsMultiFamily24,075 SF
Financed 08/25/2022
FINANCED
Blue Foundry Bank Provides $4.4M Loan For Rockaway Park Multifamily Acquisition
2-23 Beach 101st Street
See Similar DealsMultiFamily24,075 SF
Financed 08/25/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$183
Total Square Footage:24,075 SF
Transaction Type:Loan
The property asset involved is a multifamily building located at 2-23 Beach 101st Street in Rockaway Park. It has a total square footage of 24,075 and consists of 32 units. The acquisition loan amount granted for this property is $4,415,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,415,000
- Loan Type: Acquisition
- Lender: Blue Foundry Bank
- Landlord: Victor Khalifah
- Broker: Brian Anderson - Progress Capital
Key individuals involved in this transaction include Victor Khalifah, the landlord, and Brian Anderson, who represented Progress Capital as the broker. The lender for this deal is Blue Foundry Bank.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,415,000.00
Monthly NOI$29,433.33
Monthly Debt Service$27,905.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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