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Woodner Family Secures $37.2M In Loans For Flushing Multifamily Buildings

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FINANCED
$19,665,000

New York

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MultiFamily
Financed 04/28/2023
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FINANCED

Woodner Family Secures $37.2M In Loans For Flushing Multifamily Buildings

43-70 Kissena Blvd Queens, NY 11355, USA

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MultiFamily
Financed 04/28/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The Woodner family obtained two loans with Capital One totaling $37.2 million for two residential elevator buildings in Flushing. Andrea Woodner signed the first refi loan valued at $19.7 million for the 320-unit residential elevator building (D7) at 43-70 Kissena Boulevard, while the second loan valued at $17.5 million was for the 285-unit residential elevator building (D6) at 43-32 Kissena Boulevard. The loan deals closed on April 28, 2023, and were recorded on May 4, 2023, with Andrea Woodner as the signatory for both loans.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $37.2 million
  • Loan Type: Refinance
  • Lender: Capital One - Lisa A. Moghul
  • Landlord: Andrea Woodner
  • Units: 605
  • Address: 43-70 Kissena Boulevard & 43-32 Kissena Boulevard, Flushing, Queens

The lender in this transaction was Capital One, represented by Lisa A. Moghul. Andrea Woodner, as the landlord, obtained a total of $37.2 million in loans for the two residential elevator buildings located at 43-70 Kissena Boulevard and 43-32 Kissena Boulevard in Flushing, Queens.

Players

LENDER

2 deals$19.3M volume
LANDLORD

Details

FINANCED
IMAGE: 04/28/2023 ADDRESS: 43-70 Kissena Boulevard & 43-32 Kissena Boulevard MARKET: Flushing, Queens ASSET TYPE: Multifamily ~ UNITS: 605 LENDER: Capital One (@CapitalOne) - Lisa A. Moghul LANDLORD: Andrea Woodner LOAN AMOUNT: $19,665,000 LOAN TYPE: Refinance NOTE: The Woodner family obtained two loans with Capital One totaling $37.2 million for two residential elevator buildings in Flushing. Andrea Woodner signed the first refi loan valued at $19.7 million for the 320-unit residential elevator building (D7) at 43-70 Kissena Boulevard, while the second loan valued at $17.5 million was for the 285-unit residential elevator building (D6) at 43-32 Kissena Boulevard. The loan deals closed on April 28, 2023, and were recorded on May 4, 2023, with Andrea Woodner as the signatory for both loans.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$19,665,000.00

Monthly NOI$131,100.00
Monthly Debt Service$124,296.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00