Updated Apr 3, 2025
Meridian Capital Group Arranges $33.5M Construction Loan For Woodside Multifamily Property
43-15 52nd Street, Queens, New York 11377, United States
$33,500,000
$345/SF
Building Size
97,000 SF
Asset Type
MultiFamily
Closing
Jun 9, 2022
About this deal
AI
The multifamily property located at 43-15 52nd Street in Woodside has been involved in a recent loan transaction. The property has a total square footage of 97,000, making it a significant asset in the market. The loan, amounting to $33,500,000, was secured for construction purposes.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $33,500,000
- Address: 43-15 52nd Street
- Market: Woodside
- Landlord: ZD Jasper Realty - Jasper Wu
- Brokers: Morris Betesh & Omar Ferreira - Meridian Capital Group
The loan transaction involving the multifamily property was facilitated by brokers Morris Betesh and Omar Ferreira from Meridian Capital Group. They successfully represented the interests of the parties involved in the deal, including the landlord, ZD Jasper Realty, represented by Jasper Wu.
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
0.47%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93