Rockrose Development Secures $348M Loan For Multifamily Development In Long Island
FINANCED
$348,000,000
New York
See Similar DealsMultiFamily954,578 SF
Financed 07/06/2018
FINANCED
Rockrose Development Secures $348M Loan For Multifamily Development In Long Island
43-25 Hunter St, Queens, NY 11101, USA
See Similar DealsMultiFamily954,578 SF
Financed 07/06/2018
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$364
Total Square Footage:954,578 SF
Transaction Type:Loan
The multifamily development located at 43-25 Hunter St in Long Island, New York has been involved in a closed property transaction. The property, owned and developed by Rockrose Development, features a total of 974 units.
Summary of transaction details
- Property Type: Multifamily Development
- Transaction Amount: $348,000,000
- Lender: New York State Housing Finance Agency
- Landlord/Developer: Rockrose Development
In this deal, the New York State Housing Finance Agency provided a loan amount of $348,000,000 for the property located at 43-25 Hunter St. The project, developed by Rockrose Development, consists of a total of 974 units.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$348,000,000.00
Monthly NOI$2,320,000.00
Monthly Debt Service$2,199,596.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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