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47-30 59th St Woodside, NY ...

Pistilli Realty Group Refinances Multifamily Property In Flushing For $27.3M With New York Community Bank
FINANCEDMultiFamily

Pistilli Realty Group Refinances Multifamily Property In Flushing For $27.3M With New York Community Bank

47-30 59th St Woodside, NY 11377, USA

$27,332,208

Building Size

Asset Type

MultiFamily

Closing

Apr 1, 2023

AI

The multifamily property located at 47-30 59th Street & 37-08 28th Avenue in Flushing has undergone a loan refinancing transaction. The property, owned by Mike Pistilli of Pistilli Realty Group, received a loan amount of $27,332,208 from New York Community Bank. The loan refinancing deal was facilitated by Avi Weinstock and Ezra Sutton of Meridian Capital Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $27,332,208
  • Address: 47-30 59th Street & 37-08 28th Avenue
  • Market: Flushing

This loan refinancing transaction involved Mike Pistilli, the owner of the property, as well as the lender New York Community Bank. Avi Weinstock and Ezra Sutton, representing Meridian Capital Group, played crucial roles in facilitating the deal.

Players

Avi Weinstock

Meridian Capital Group

Broker

$266.5M

vol

10 deals

Broker
New York Community Bank
New York Community BankLender

Miike Pistilli

Pistilli Realty Group

Landlord

$99.8M

vol

3 deals

Landlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.58%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93