Flushing Bank Provides $21.75M Loan For Multifamily Property In Douglaston
FINANCED
$21,750,000
New York
See Similar DealsMultiFamily56,539 SF
Financed 06/25/2021
FINANCED
Flushing Bank Provides $21.75M Loan For Multifamily Property In Douglaston
241-15 Northern Boulevard, Douglaston, Queens, NY, USA
See Similar DealsMultiFamily56,539 SF
Financed 06/25/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$384
Total Square Footage:56,539 SF
Transaction Type:Loan
The multifamily property located at 241-15 Northern Boulevard in Douglaston has been involved in a recent loan transaction. The loan amount of $21,750,000 was provided by Flushing Bank. The property spans across 56,539 square feet and consists of 54 units. The landlord of the property is Frank Russo.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,750,000
- Square Footage: 56,539
- Units: 54
- Lender: Flushing Bank
- Landlord: Frank Russo
This loan transaction was facilitated by Flushing Bank, representing the financial aspect of the deal. Frank Russo, as the landlord, played a key role in the transaction. Together, they successfully secured the funding for the multifamily property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,750,000.00
Monthly NOI$145,000.00
Monthly Debt Service$137,474.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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