Updated Dec 4, 2024
Fannie Mae Provides $28.4M Agency Loan For Multifamily Property In Sunnyside, Queens
48-16 47th Street
$28,364,000
$123/SF
Building Size
230,000 SF
Asset Type
MultiFamily
Closing
Sep 27, 2023
About this deal
AI
A multifamily property in Sunnyside, Queens has recently been involved in a loan transaction. The property is located at 48-16 47th Street and has a total square footage of 230,000. It consists of 468 units, making it a sizable and promising investment opportunity in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,364,000
- Lender: Fannie Mae
- Brokers: Steven Klein, Michael Shmuely, Michael Zaremski & John Flynn - JLL
Fannie Mae provided the loan for the transaction, which is categorized as an agency loan. The involvement of Steven Klein, Michael Shmuely, Michael Zaremski, and John Flynn from JLL as brokers highlights the expertise brought into the deal, ensuring a smooth and successful transaction.
Players
Street 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93