Yitzchok Katz Secures $48.6M Construction Loan For Astoria Multifamily Property
2-24 26th Avenue, Queens, New York 11102, United States
$48,600,000
$357,352/SF
Building Size
136 SF
Asset Type
MultiFamily
Closing
Aug 12, 2022
AI
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.
Players
Astoria 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93