360 Capital Funding Provides $10.45M Construction Loan For Multifamily Asset In Queens
FINANCED
$10,450,000
New York
See Similar DealsMultiFamily42,000 SF
Financed 03/04/2025
FINANCED
360 Capital Funding Provides $10.45M Construction Loan For Multifamily Asset In Queens
153 33 89th Avenue
See Similar DealsMultiFamily42,000 SF
Financed 03/04/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$248
Total Square Footage:42,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,450,000.00
Monthly NOI$69,666.67
Monthly Debt Service$66,051.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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