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41-10 Crescent Street

Watermark Capital Group Secures $105 Million Loan For Multifamily Property In Long Island City
FINANCEDMultiFamily

Watermark Capital Group Secures $105 Million Loan For Multifamily Property In Long Island City

41-10 Crescent Street

$105,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 30, 2026

AI

The asset involved in this transaction is a multifamily property located at 41-10 Crescent Street in the Long Island City market. This property secured a loan amount of $105,000,000, categorized specifically as a Lease up, Leasehold Refinance transaction.

Summary of transaction details:

This transaction involved significant key players in the real estate sector, particularly the landlord, Watermark Capital Group. The team representing the landlord consisted of Morris Betesh, Israel Mermelstein, Omar Ferreira, Jacob Petrovic, and Jonah Schultz from Arrow Real Estate Advisors.

Players

Morris Betesh

Arrow Real Estate Advisors

Broker

$14.2B

vol

238 deals

Broker
WG
Watermark Capital GroupLandlord

Long Island City 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

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93