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5-35 47th Road, Long Island...

Urban Standard Capital Provides $2.4M Multifamily Loan For 5-35 47th Road In Long Island City
FINANCEDMultiFamily

Urban Standard Capital Provides $2.4M Multifamily Loan For 5-35 47th Road In Long Island City

5-35 47th Road, Long Island City, NY, USA

$2,400,000

$588/SF

Building Size

4,080 SF

Asset Type

MultiFamily

Closing

Jun 17, 2020

AI

Located in Long Island City, 5-35 47th Road is a multifamily property that recently underwent a closed transaction. The loan for this property was provided by Urban Standard Capital, with Seth Weissman, Charlie Brosens, Sam Hollander, and Bean as the representatives of the lending company. The loan amount secured for this transaction was $2,400,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,400,000
  • Lender: Urban Standard Capital - Seth Weissman, Charlie Brosens, Sam Hollander, and Bean
  • Address: 5-35 47th Road
  • Market: Long Island City

For any debt or equity opportunities related to this property, interested parties can reach out to Seth Weissman at [email protected] or Sam Hollander at [email protected]. Urban Standard Capital is dedicated to providing lending solutions for properties in the Long Island City market.

Players

Seth Weissman

Urban Standard Capital

Lender

$590.5M

vol

56 deals

Lender
Urban Standard Capital
Urban Standard CapitalLender

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

6.61%

Cash-on-Cash

-1.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93