Yitzchok Katz Secures $48.6M Construction Loan For Astoria Multifamily Property
FINANCED
$48,600,000
New York
See Similar DealsMultiFamily136 SF
Financed 08/12/2022
FINANCED
Yitzchok Katz Secures $48.6M Construction Loan For Astoria Multifamily Property
2-24 26th Avenue, Queens, New York 11102, United States
See Similar DealsMultiFamily136 SF
Financed 08/12/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$357,352
Total Square Footage:136 SF
Transaction Type:Loan
The multifamily property located at 2-24 26th Avenue in Astoria, Queens has been involved in a recent transaction. The property spans approximately 136,000 square feet and consists of 137 units. It is situated in the Astoria market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $48,600,000
- Address: 2-24 26th Avenue
- Market: Astoria, Queens
- Square footage: 136,000
- Units: 137
Yitzchok Katz acted as the landlord in this transaction. The loan provider was Popular Bank, which granted a construction loan of $48,600,000. Henry Bodek from Galaxy Capital represented the borrower as the broker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$48,600,000.00
Monthly NOI$324,000.00
Monthly Debt Service$307,185.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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