Stony Clove Capital Refinances Multifamily Property In Astoria For $1.25M | 30-89 44th Street | Stony Clove Capital | Sage Usher | MultiFamily | Loan

Summary

Loan

NEW YORK

MultiFamily

4,680 sqft

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.

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3

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Details

Deal Summary

FINANCED

IMAGE: Adam Sabella & Sage Usher DATE: 01/24/2022 ADDRESS: 30-89 44th Street MARKET: Astoria ASSET TYPE: Multifamily ~ SF: 4,680 ~ UNITS: 6 LENDER: Adam Sabella - Stony Clove Capital BROKER: Sage Usher - Leviathan Capital (@LeviathanCapital) LOAN AMOUNT: $1,250,000 LOAN TYPE: Refinance NOTE FROM LENDER: This transaction required an expedited closing as the existing lender filed a foreclosure & the property had recently sustained fire damage. Our financing gives the borrower the time they need to restore & stabilize the asset so as to obtain conventional financing.

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Address30-89 44th Street

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