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
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