Updated Oct 29, 2024
Lions Group Acquires Multifamily Building In Long Island City With $65M Loan From Greystone & Co
42-10 27th St, Long Island City, NY 11101, USA
$65,000,000
$452/SF
Building Size
143,713 SF
Asset Type
MultiFamily
Closing
May 5, 2020
About this deal
AI
The multifamily property located at 42-10 27th Street in Long Island City has recently been involved in a closed transaction. The property consists of 110 units and was sold for a total loan amount of $65,000,000. The lender in this transaction was Greystone & Co, with Bryan Grover, Drew Fletcher, and Matthew Klauer representing them.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Address: 42-10 27th Street
- Market: Long Island City
- Lender: Greystone & Co (represented by Bryan Grover, Drew Fletcher, and Matthew Klauer)
- Landlord: Lions Group (represented by Allen Shirian and Jake)
- Units: 110
In this transaction, the Lions Group, represented by Allen Shirian and Jake, acted as the landlords. The involvement of these key individuals showcases their role in the deal.
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93