Updated Dec 21, 2023
Woodner Family Secures $37.2M In Loans For Flushing Multifamily Buildings
43-70 Kissena Blvd Queens, NY 11355, USA
$19,665,000
Units
605
Asset Type
MultiFamily
Closing
Apr 28, 2023
About this deal
AI
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
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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93