Updated Feb 16, 2024
Mission Real Estate Funding Provides $529.5K Loan For Multifamily Property In Averne
544 Beach 67th Street, Arverne, NY, USA
$529,500
$135/SF
Building Size
3,920 SF
Asset Type
MultiFamily
Closing
Feb 17, 2021
About this deal
AI
A multifamily property located at 544 Beach 67th Street in Averne has recently been involved in a loan transaction. The loan was provided by Mission Real Estate Funding, with Dennis Mihalatos serving as the lender's representative. The loan amount was $529,500, with a term of LTC 90% and a 12-month term.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $529,500
Israel Dana is the landlord of the property, and Marinos Mihalatos acted as the broker in this deal.
NOTE: No additional information is available regarding this transaction.
On the Map
$529,500
$135/SF
MultiFamily
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Players
Queens 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
29.96%
Cash-on-Cash
-8.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93