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RWK Companies Acquires Multifamily Portfolio In Ridgewood, Queens For $2.05M

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FINANCED
$2,050,000

New York

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MultiFamily16,085 SF
Financed 04/14/2020
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FINANCED

RWK Companies Acquires Multifamily Portfolio In Ridgewood, Queens For $2.05M

1821 Cornelia St, Ridgewood, NY 11385, USA

See Similar Deals
MultiFamily16,085 SF
Financed 04/14/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$127
Total Square Footage:16,085 SF
Transaction Type:Loan

Multifamily properties located at 6060 Catalpa Avenue, 1821 Cornelia Street, and 1814 Linden Street in Ridgewood, Queens were recently involved in a closed transaction. The properties offer a total of 18 units and have a combined square footage of 16,085. The transaction was facilitated by broker Adam Brostovski from GCP Capital, representing RWK Companies as the landlord. The lender for the transaction was Ridgewood Savings Bank with a loan amount of $2,050,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,050,000
  • Number of Units: 18
  • Square Footage: 16,085
  • Property Addresses: 6060 Catalpa Avenue, 1821 Cornelia Street, 1814 Linden Street
  • Market: Ridgewood, Queens

Adam Brostovski of GCP Capital represented RWK Companies as the landlord in this transaction. The deal was successfully executed with the assistance of Ridgewood Savings Bank as the lender.

Players

Adam Brostovski
2 deals$8.1M volume
BROKER

Details

FINANCED
IMAGE: Marc Weil & Adam Brostovski DATE: 04/14/2020 ADDRESS: 6060 Catalpa Avenue, 1821 Cornelia Street, 1814 Linden Street MARKET: Ridgewood, Queens ASSET TYPE: Multifamily LENDER: Ridgewood Savings Bank LANDLORD: RWK Companies – Marc Weil BROKER: Adam Brostovski – GCP Capital LOAN AMOUNT: $2,050,000 SF: 16,085 UNITS: 18

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,050,000.00

Monthly NOI$13,666.67
Monthly Debt Service$12,957.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00