Updated Nov 4, 2023
Nicholas Notias Secures $7M Loan From Webster Bank For Astoria Multifamily Property
28-15 35th Street Astoria, NY 11103, USA
$7,000,000
$419/SF
Building Size
16,685 SF
Asset Type
MultiFamily
Closing
Jul 31, 2023
About this deal
AI
A $7 million loan has been secured by Nicholas Notias, through 35th Street Realty, LLC, from Webster Bank for a 20-unit residential elevator building located at 28-15 35th Street in Astoria, Queens. The multifamily property spans 16,685 square feet and consists of 20 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Address: 28-15 35th Street, Astoria, Queens
- Market: Astoria, Queens
- Square Footage: 16,685
- Units: 20
- Lender: Webster Bank
- Landlord: Nicholas Notias
Nicholas Notias, represented by 35th Street Realty, LLC, secured a $7 million loan from Webster Bank for the acquisition of a 20-unit residential elevator building at 28-15 35th Street in Astoria, Queens. This financing will support the operation and management of the multifamily property, providing housing for the residents of Queens.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93