Kingdom Equities Refinances Astoria Multifamily Property With $3.13M Loan From Ridgewood Savings Bank
FINANCED
$3,125,000
New York
See Similar DealsMultiFamily
Financed 07/15/2022
FINANCED
Kingdom Equities Refinances Astoria Multifamily Property With $3.13M Loan From Ridgewood Savings Bank
30-38 Steinway Street
See Similar DealsMultiFamily
Financed 07/15/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 30-38 Steinway St. in Astoria has recently undergone a loan refinance transaction. The property, owned by Dom Casamento of Kingdom Equities, obtained a loan from Ridgewood Savings Bank. The loan amount secured for this transaction was $3,125,000. The loan terms include a fixed interest rate of 3.625% for the first year with interest-only payments, followed by a 30-year amortization period.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,125,000
- Lender: Ridgewood Savings Bank
- Landlord: Dom Casamento - Kingdom Equities
- Broker: Matthew Albano - GCP Capital
Matthew Albano of GCP Capital represented Dom Casamento and Kingdom Equities as the broker in this refinance loan deal. The involvement of GCP Capital highlights their expertise in facilitating successful financial transactions in the real estate market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,125,000.00
Monthly NOI$20,833.33
Monthly Debt Service$19,752.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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