Damien Smith's Prosper Property Group & First Standard Construction Refinances Long Island City Multifamily For $5.7M With Fieldpoint Private Loan

The multifamily property located at 27-10 37th Avenue in Long Island City has recently undergone a loan transaction. The property spans over 12,367 square feet and consists of 11 units. The loan involved in the transaction is a refinance, provided by Fieldpoint Private.

Summary of Transaction Details:

• Property Type: Multifamily
• Transaction Amount: $5,725,000
• Loan Type: Refinance
• Loan Terms: 5-year fixed, 4.875%, cash out

In this transaction, the landlord of the property is Damien Smith, who represents Prosper Property Group & First Standard Construction. It is noteworthy that the loan amount of $5,725,000 will provide the opportunity for cash out for the landlord.