360 Capital Funding Provides $10.45M Construction Loan For Multifamily Asset In Queens

The property asset involved in this transaction is a multifamily building located at 153-33 89th Avenue in Queens. It encompasses a total square footage of 42,000 and consists of 36 units. The loan amount secured for the property is $10,450,000, classified under a construction loan with a loan-to-value ratio of 65%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,450,000
• Address: 153-33 89th Avenue
• Market: Queens
• Asset Size: 42,000 SF
• Units: 36
• Lender: Andrew Waldman - 360 Capital Funding
• Broker: Michael Lee - HKS Real Estate Advisors
• Loan Type: Construction
• Loan Terms: 65% LTV

The key individuals involved in this transaction are Andrew Waldman representing 360 Capital Funding as the lender, and Michael Lee acting on behalf of HKS Real Estate Advisors as the broker facilitating the deal.