Updated Feb 16, 2024
Bank Leumi USA Provides $95M Construction Loan For 164-Unit Multifamily Project In Long Island City
27-01 Jackson Avenue, Long Island City, NY 11101, USA
$95,000,000
$10,331/SF
Building Size
9,195 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
The property involved in this transaction is a multifamily building located at 27-01 Jackson Avenue in Long Island City. It consists of 164 units and is owned by Fetner Properties, represented by Hal Fetner, and Lions Group, represented by Albert Shirian.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $95,000,000
- Address: 27-01 Jackson Avenue
- Market: Long Island City
- Units: 164
The loan for this property was provided by Bank Leumi USA, represented by Jeff Puchin, Leumi Partners, and Israeli Discount Bank. The loan amount is $95,000,000 and it is a construction loan.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93