Updated Oct 28, 2024
Pacific Western Bank And PCCP Provide $109M Construction Loan For Multifamily Building On Long Island
47 Broadway, Queens, New York 11106, United States
$109,000,000
$3,943/SF
Building Size
27,640 SF
Asset Type
MultiFamily
Closing
May 11, 2022
About this deal
AI
47 Broadway in Long Island has been involved in a closed transaction. The property is a multifamily asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $109,000,000
- Market: Long Island
- Address: 47 Broadway
The loan for this transaction was provided by Pacific Western Bank and PCCP. The landlord involved in the deal is Breslin Realty Development and Fields Grade Development. The brokers representing the transaction were Lee Spiegelman, Mark DeLillo, Marc Schulder, and Felipe Marin from BlueGate Partners.
Note: The loan type for this transaction is construction.
On the Map
$109,000,000
$3,943/SF
MultiFamily
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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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93