Richard Boynton Of Fairfield Properties Secures $11.6M Refinance Loan From Citibank For Multifamily Asset

The multifamily asset is located at 7-07 Beach 9th Street in Far Rockaway, Queens, encompassing a total square footage of 83,730. The property features a 104-unit elevator building and has undergone refinancing, with a loan amount of $11,600,000 secured from Citibank. The refinancing replaced a previous loan of $15,200,000 from TD Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,600,000
• Address: 7-07 Beach 9th Street
• Market: Far Rockaway, Queens
• Lender: Citibank
• Landlord: Richard Boynton - Fairfield Properties
• Previous Loan: $15,200,000 from TD Bank

The transaction was facilitated by Richard Boynton, who represents Fairfield Properties in this refinancing deal, executed through Fairfield Beach 9th LLC.