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First National Bank Of Long Island Provides $3.05M Cash Out Refinance Loan For 21-Unit Multifamily In Astoria

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FINANCED
$3,050,000

New York

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MultiFamily13,000 SF
Financed 09/02/2021
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Property Image
FINANCED

First National Bank Of Long Island Provides $3.05M Cash Out Refinance Loan For 21-Unit Multifamily In Astoria

23-74 29th Avenue, Astoria, NY, USA

See Similar Deals
MultiFamily13,000 SF
Financed 09/02/2021
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$234
Total Square Footage:13,000 SF
Transaction Type:Loan

Located in Astoria, the multifamily property at 23-74 29th Street has recently undergone a closed transaction. Spanning approximately 13,000 square feet, this property consists of 21 units. The transaction took place on 09/02/2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,050,000
  • Address: 23-74 29th Street
  • Market: Astoria
  • Square Footage: 13,000
  • Units: 21

The loan for this transaction was provided by First National Bank Of Long Island. Dean Katz from KSRealEstateAdvisors represented the buyer as the broker. The loan, valued at $3,050,000, was a cash-out refinance with non-recourse terms.

Players

Dean Katz
Dean Katz
3 deals$17.6M volume
BROKER
First National Bank Of Long Island
First National Bank Of Long Island
LENDER

Details

FINANCED
IMAGE: Dean Katz DATE: 09/02/2021 ADDRESS: 23-74 29th Street MARKET: Astoria ASSET TYPE: Multifamily ~ SF: 13,000 ~ UNITS: 21 LENDER: First National Bank Of Long Island BROKER: Dean Katz (@Dean_Katz) - @HKSRealEstateAdvisors LOAN AMOUNT: $3,050,000 LOAN TYPE: Refinance LOAN TERMS: Cash out refinance, non-recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,050,000.00

Monthly NOI$20,333.33
Monthly Debt Service$19,278.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00