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Kearny Bank Provides $5.2M Loan For Multifamily Property At 22 Pearsall Ave. In Freeport

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FINANCED
$5,200,000

New York

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MultiFamily42,228 SF
Financed 07/21/2020
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FINANCED

Kearny Bank Provides $5.2M Loan For Multifamily Property At 22 Pearsall Ave. In Freeport

22 Pearsall Ave, Freeport, NY, USA

See Similar Deals
MultiFamily42,228 SF
Financed 07/21/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$123
Total Square Footage:42,228 SF
Transaction Type:Loan

Located at 22 Pearsall Ave. in Freeport, this multifamily property was involved in a recent closed transaction. The property is owned by Daniel Goldstein and Aron Goldstein, who represent @BOSFAProperties. The transaction was facilitated by the broker Sevenstone Capital. The loan amount for this transaction was $5,200,000, provided by Kearny Bank. The loan terms include a 10-year term at a fixed interest rate of 3.25% with a 2-year interest-only period.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,200,000
  • Address: 22 Pearsall Ave., Freeport
  • Market: Freeport
  • Lender: Kearny Bank
  • Landlord: @BOSFAProperties - Daniel Goldstein & Aron Goldstein
  • Broker: Sevenstone Capital
  • Loan Terms: 10-year term at 3.25% interest rate with 2 years interest-only

In this deal, Daniel Goldstein and Aron Goldstein of @BOSFAProperties served as the landlords, owning the multifamily property located at 22 Pearsall Ave. Sevenstone Capital acted as the broker in this transaction. Kearny Bank provided the loan amount of $5,200,000 with a 10-year loan term at a fixed interest rate of 3.25% and a 2-year interest-only period.

Players

LENDER

Daniel Goldstein
6 deals$63.9M volume
LANDLORD

Daniel Goldstein
6 deals$63.9M volume
LANDLORD


4 deals$39.3M volume
LANDLORD

Details

FINANCED
IMAGE: Daniel Goldstein & Aron Goldstein DATE: 07/21/2021 ADDRESS: 22 Pearsall Ave. MARKET: Freeport ASSET TYPE: Multifamily LENDER: Kearny Bank LANDLORD: @BOSFAProperties - Daniel Goldstein & Aron Goldstein BROKER: Sevenstone Capital LOAN AMOUNT: $5,200,000 LOAN TERMS: 10 year loan term @ 3.25% 2 years i/o

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,200,000.00

Monthly NOI$34,666.67
Monthly Debt Service$32,867.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00