Arbor Realty Trust Provides $98M Loan For Long Island City Multifamily Acquisition By The Rabsky Group
42-22 27th Street, Long Island City, NY, USA
$98,000,000
$694/SF
Building Size
141,077 SF
Asset Type
MultiFamily
Closing
Feb 9, 2021
AI
The multifamily property located at 42-22 27th Street in Long Island City has been involved in a recent transaction. The property spans over 141,077 square feet and consists of 195 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $98,000,000
- Address: 42-22 27th Street
- Market: Long Island City
- Loan Amount: $98,000,000
- Lender: Arbor Realty Trust
- Landlord: The Rabsky Group
Arbor Realty Trust served as the lender in this transaction, providing a loan amount of $98,000,000. The Rabsky Group, acting as the landlord, engaged 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93