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David Lichtenstein Of Lightstone Group Refinances 199-Unit Multifamily In Long Island City For $67.2M
FINANCED
$67,200,000
New York
See Similar DealsMultiFamily
Financed 01/28/2025
FINANCED
David Lichtenstein Of Lightstone Group Refinances 199-Unit Multifamily In Long Island City For $67.2M
50 01 2nd Street
See Similar DealsMultiFamily
Financed 01/28/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
A 199-unit residential building located at 50-01 2nd Street in Long Island City, Queens, was refinanced with a loan amounting to $67.2 million. The asset is classified as MultiFamily and is situated in a market that supports residential living.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $67,200,000
- Loan Type: Refinance
- Lender: Marc Jeffrey Rowan - Apollo Global Management
- Landlord: David Lichtenstein - Lightstone Group
- Units: 199
The transaction involved a refinance orchestrated by Lightstone Group, led by David Lichtenstein, who secured funding from Apollo Global Management, represented by Marc Jeffrey Rowan. The refinancing underscores the ongoing investment and financial strategies employed by these leading firms within the multifamily property market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$67,200,000.00
Monthly NOI$448,000.00
Monthly Debt Service$424,749.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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