Updated Feb 16, 2024
Andrea Woodner's Skyline Towers 5 LLC Secures $19.3M Refinancing Deal For Flushing Multifamily With Capital One
43-23 Colden Street Queens, New York 11355, USA
$19,300,000
Units
321
Asset Type
MultiFamily
Closing
Apr 28, 2023
About this deal
AI
Skyline Towers 5 LLC, owned by Andrea Woodner, recently finalized a refinancing deal for a multifamily property located at 43-23 Colden Street in Flushing, Queens. The property consists of 321 residential units and features an elevator. With a total built space of approximately 342,705 square feet, this property has a city-designated market value of $28.5 million.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,300,000
- Lender: Capital One
- Landlord: Andrea Woodner
- Loan Type: Refinance
The refinancing deal was secured through a $19.3 million loan provided by Capital One. This transaction allows Skyline Towers 5 LLC and Andrea Woodner to optimize their financial structure, potentially reducing interest rates and/or extending the repayment period. The property generated $6.7 million in revenue and the refinancing deal will further enhance its financial stability.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93