Stony Clove Capital Refinances Multifamily Property In Astoria For $1.25M

Located at 30-89 44th Street in Astoria, this multifamily property spans 4,680 square feet and consists of 6 units. The transaction took place on January 24, 2022.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $1,250,000
• Market: Astoria
• Loan Type: Refinance
• Lender: Adam Sabella - Stony Clove Capital
• Broker: Sage Usher - Leviathan Capital

Adam Sabella from Stony Clove Capital provided a loan amount of $1,250,000 for the refinance of this property. The borrower required an expedited closing due to the existing lender filing a foreclosure and the property suffering recent fire damage. The financing provided will allow the borrower to restore and stabilize the asset, enabling them to obtain conventional financing in the future.