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46 06 11th Street

Benefit Street Partners Provides $31.75M Refinance Loan For Long Island City Multifamily Asset
FINANCEDMultiFamily

Benefit Street Partners Provides $31.75M Refinance Loan For Long Island City Multifamily Asset

46 06 11th Street

$31,750,000

Building Size

Asset Type

MultiFamily

Closing

Nov 13, 2025

AI

The asset involved in this transaction is a multifamily property located at 46-06 11th Street in the Long Island City market, consisting of 59 units. The refinance loan amount secured for this property is $31,750,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $31,750,000
  • Lender: Benefit Street Partners
  • Brokers: Drew Fletcher & Bryan Grover - Greystone
  • Loan Type: Refinance
  • Date of Transaction: 11/14/2025

Drew Fletcher and Bryan Grover from Greystone acted as the brokers representing the transaction for this multifamily property, facilitating the refinance process with Benefit Street Partners as the lender.

Players

Bryan Grover

Greystone

Broker

$6.2B

vol

36 deals

Broker
Greystone
GreystoneBrokerage
Benefit Street Partners Realty
Benefit Street Partners RealtyLender

Long Island City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93