Updated Mar 11, 2025
Stony Clove Capital Refinances Multifamily Property In Astoria For $1.25M
30-89 44th Street, Queens, New York 11103, United States
$1,250,000
$267/SF
Building Size
4,680 SF
Asset Type
MultiFamily
Closing
Jan 24, 2022
About this deal
AI
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.
On the Map
$1,250,000
$267/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93