Updated Oct 28, 2024
Cammeby’s International Group Refinances Oakland Gardens Multifamily For $88.1M
224-01 69th Avenue, Queens, New York 11364, United States
$88,148,000
$165/SF
Building Size
533,250 SF
Asset Type
MultiFamily
Closing
Apr 24, 2022
About this deal
AI
Cammeby's International Group has secured a refinancing loan of $88,148,000 for three multifamily properties in Oakland Gardens. The properties, located at 224-01 69th Avenue, 223-01 65th Avenue, and 224-65 64th Avenue, have a total square footage of 533,250 and consist of 224 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $88,148,000
- Address: 224-01 69th Avenue, 223-01 65th Avenue, 224-65 64th Avenue
- Market: Oakland Gardens
- Landlord: Cammeby’s International Group
NewPoint Real Estate Capital provided the refinance loan for this transaction. The loan was secured by Cammeby's International Group, representing the landlord in the deal.
Players
New York 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
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93