Jake Lapidot Of Cooper Horowitz Secures $2.25M Refinance Loan For Multifamily Asset In Long Island City
FINANCED
$2,250,000
New York
See Similar DealsMultiFamily12,500 SF
Financed 07/25/2024
FINANCED
Jake Lapidot Of Cooper Horowitz Secures $2.25M Refinance Loan For Multifamily Asset In Long Island City
42-77 Hunter Street
See Similar DealsMultiFamily12,500 SF
Financed 07/25/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$180
Total Square Footage:12,500 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 42-77 Hunter Street in the Long Island City market. It encompasses a total area of 12,500 square feet and has a refinancing loan amount of $2,250,000, provided by Chase Bank.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,250,000
- Loan Type: Refinance
- Lender: Chase Bank
- Broker: Jake Lapidot - Cooper Horowitz
The deal was facilitated by broker Jake Lapidot, representing Cooper Horowitz, who played a key role in securing the refinancing loan for the transaction. The involvement of Chase Bank as the lender outlines the financial backing for this multifamily property in Long Island City.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,250,000.00
Monthly NOI$15,000.00
Monthly Debt Service$14,221.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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