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
Long Island City 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
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93