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39th Avenue, Queens, New Yo...

Harborview Capital Partners & First American Capital Group Refinances Multifamily Property In Bayside, Queens For $4.55M
FINANCEDMultiFamily

Harborview Capital Partners & First American Capital Group Refinances Multifamily Property In Bayside, Queens For $4.55M

39th Avenue, Queens, New York 11358, United States

$4,550,000

$188/SF

Building Size

24,140 SF

Asset Type

MultiFamily

Closing

Dec 27, 2021

AI

Located at 20802 39th Ave. in Bayside, Queens, is a multifamily property comprising 26 units. The total square footage of the property is 24,140. The market value of this asset is not specified in the provided information. The transaction took place on December 28, 2021, and the loan amount for this deal was $4,550,000. The loan type was a refinance, specifically a HUD 223(A)(7) refinance. Yucel Adebali is the landlord of this property.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,550,000
  • Square Footage: 24,140
  • Units: 26
  • Market: Bayside, Queens
Dean Ofer, representing First American Capital Group and Harborview Capital Partners, played a role as the lender in this deal. If you are interested in learning more about HUD, Agency, or Bridge financing, you can reach out to Dean Ofer at 646-733-8520 or via email at [email protected].

Players

Harborview Capital Partners
Harborview Capital PartnersBrokerage

Dean Ofer

Harborview Capital Partners

Lender

$93M

vol

7 deals

Lender
Harborview Capital Partners
Harborview Capital PartnersLender

Yucel Adebali

Landlord

$4.6M

vol

1 deal

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.49%

Cash-on-Cash

-1.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93