Dime Community Bank Provides $1.3M Loan For Multifamily Property In Long Island City

A multifamily property located at 34-57 9th Street in Long Island City was recently involved in a closed transaction. The property, captured in a photo taken by Michael Volpe, is situated in a bustling market and offers great investment potential.

Summary of transaction details

• Property Type: Multifamily
• Transaction Date: 04/20/2021
• Address: 34-57 9th Street, Long Island City
• Market: Long Island City

The loan for this transaction was provided by Dime Community Bank. The loan amount was $1,295,000 with favorable terms: a fixed interest rate of 3.625% for 5 years and a 30-year repayment schedule. The property is owned by Antonios & Nick Fiorentinos, who are recognized as the landlords in this deal. The broker representing this transaction was Michael Volpe from HighCap Group.