Updated Oct 29, 2024
Rockrose Development Secures $348M Loan For Multifamily Development In Long Island
43-25 Hunter St, Queens, NY 11101, USA
$348,000,000
$364/SF
Building Size
954,578 SF
Asset Type
MultiFamily
Closing
Jul 5, 2018
About this deal
AI
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.
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93