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Realty Three Acquires Multifamily Property On Long Island With $5.7M Loan

Property Image
FINANCED
$5,700,000
Len Novick
CL

New York

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MultiFamily1,000 SF
Financed 07/23/2020
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Property Image
FINANCED

Realty Three Acquires Multifamily Property On Long Island With $5.7M Loan

460 Old Town Road, Port Jefferson Station, NY, USA

See Similar Deals
MultiFamily1,000 SF
Financed 07/23/2020
Len Novick
CL
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$5,700
Total Square Footage:1,000 SF
Transaction Type:Loan

A multifamily property located at 460 Old Town Road in Long Island has recently been involved in a loan transaction. The loan, amounting to $5,700,000, was provided by Bethpage Federal Credit Union.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $5,700,000
  • Address: 460 Old Town Road
  • Market: Long Island
  • Landlord: Realty Three - Sam Lefkowitz & Charlie Lefkowitz
  • Broker: Len Novick - Estreich & Co

The property's landlord, Realty Three represented by Sam Lefkowitz & Charlie Lefkowitz, played a significant role in the transaction. Len Novick from Estreich & Co acted as the broker assisting in the deal.

Additionally, the landlord, Sam Lefkowitz, has expressed interest in value-add garden style apartments in the New York metro area and Long Island. For potential deal opportunities, Sam Lefkowitz can be contacted via email at [email protected].

Players

Len Novick
Len Novick
1 deal$5.7M volume
BROKER
RT
Realty Three
LANDLORD
CL
Charlie Lefkowitz
7 deals$129.1M volume
LANDLORD

Details

FINANCED
IMAGE: Sam Lefkowitz & Charlie Lefkowitz DATE: 07/23/2021 ADDRESS: 460 Old Town Road 🐎 🤠 MARKET: Long Island ASSET TYPE: Multifamily LENDER: Bethpage Federal Credit Union LANDLORD: Realty Three - Sam Lefkowitz & Charlie Lefkowitz (@Charlie_Lef_) BROKER: Len Novick - Estreich & Co LOAN AMOUNT: $5,700,000 NOTE FROM LANDLORD: We are looking for value-add garden style apartments in the New York metro area as well as Long Island. Contact Sam Lefkowitz at [email protected] for any deal opportunities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,700,000.00

Monthly NOI$38,000.00
Monthly Debt Service$36,027.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00