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Lions Group Acquires Multifamily Building In Long Island City With $65M Loan From Greystone & Co

Property Image
FINANCED
$65,000,000

New York

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MultiFamily143,713 SF
Financed 05/06/2020
the dealdetailscomps
Property Image
FINANCED

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

See Similar Deals
MultiFamily143,713 SF
Financed 05/06/2020
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$452
Total Square Footage:143,713 SF
Transaction Type:Loan

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.

Details

FINANCED
IMAGE: Allen Shirian DATE: 05/06/2020 ADDRESS: 42-10 27th Street MARKET: Long Island City ASSET TYPE: Multifamily LENDER: Greystone & Co – Bryan Grover, Drew Fletcher, Matthew Klauer LANDLORD: Lions Group: Allen Shirian (@AllenShir), Jake (@JakeShirian) & (@AShirian) LOAN AMOUNT: $65,000,000 UNITS: 110

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,000,000.00

Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00