Updated Oct 28, 2024
Signature Bank Provides $8.5M Loan For Multifamily Property In Flushing
36-25 Parsons Boulevard, Flushing, NY, USA
$8,500,000
$166/SF
Building Size
51,000 SF
Asset Type
MultiFamily
Closing
Jul 27, 2021
About this deal
AI
A multifamily property located at 36-25 Parsons Boulevard in Flushing has been involved in a loan transaction. The loan was provided by Signature Bank to S.W. Management, the landlord of the property. The loan amount is $8,500,000 and the property consists of 67 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Address: 36-25 Parsons Boulevard
- Market: Flushing
- Lender: Signature Bank
- Landlord: S.W. Management
- Units: 67
This loan transaction involves Signature Bank and S.W. Management, with the latter acting as the landlord of the multifamily property located at 36-25 Parsons Boulevard in Flushing. The loan amount of $8,500,000 was provided for this property, which comprises 67 units.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93