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Meshulem Twersky Secures $28.5 Million Refinance Loan From Haim Dadi In Astoria Queens

Property Image
FINANCED
$28,500,000

New York

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MultiFamily151,280 SF
Financed 10/02/2024
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Property Image
FINANCED

Meshulem Twersky Secures $28.5 Million Refinance Loan From Haim Dadi In Astoria Queens

31-59 Vernon Boulevard & 11-24 31st Drive

See Similar Deals
MultiFamily151,280 SF
Financed 10/02/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$188
Total Square Footage:151,280 SF
Transaction Type:Loan

The property involved in this transaction includes two residential elevator buildings located at 31-59 Vernon Boulevard & 11-24 31st Drive in Astoria, Queens. The multifamily asset has a total of 102 units, a building size of 79,712 BSF, and a total square footage of 75,640. The loan was secured by the landlord, Meshulem Twersky, for refinancing purposes.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $28,500,000
  • Address: 31-59 Vernon Boulevard & 11-24 31st Drive
  • Market: Astoria, Queens
  • Units: 102
  • Lender: Haim Dadi - Golden Bridge Funding
  • Landlord: Meshulem Twersky
  • Loan Type: Refinance
  • Prior Debt Amount: $20,000,000
  • Previous Lender: S3 Capital

Haim Dadi is the representative of Golden Bridge Funding in this transaction. Meshulem Twersky undertook this refinancing to replace existing debt obligations, enhancing the financing structure for the two multifamily buildings in Astoria.

Players

Golden Bridge Funding
Golden Bridge Funding
LENDER

Details

FINANCED
IMAGE: Haim Dadi DATE: 10/02/2024 ADDRESS: 31-59 Vernon Boulevard & 11-24 31st Drive MARKET: Astoria, Queens ASSET TYPE: Multifamily ~ BSF: 79,712 ~ SF: 75,640 ~ UNITS: 102 LENDER: Haim Dadi - Golden Bridge Funding LANDLORD: Meshulem Twersky LOAN AMOUNT: $28,500,000 LOAN TYPE: Refinance NOTE: Meshulem Twersky refinanced two residential elevator buildings in Astoria, Queens, totaling 102 units, with a $28.5 million loan from Golden Bridge Funding, replacing $20 million in prior debt from S3 Capital.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$28,500,000.00

Monthly NOI$190,000.00
Monthly Debt Service$180,139.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00