Updated Dec 18, 2023
Allon Avgi Refinances Patchogue Multifamily Property With $1.04M Loan
7 Reel St, East Patchogue, NY, USA
$1,040,000
$297/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
Located in Patchogue, the multifamily property at 7 Reel St. and 283 Bayview Ave. has recently undergone a refinancing transaction. The loan, amounting to $1,040,000, was provided by LJL Capital LLC. The property, owned by Allon Avgi, is situated in a bustling market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,040,000
- Lender: LJL Capital LLC
- Landlord: Allon Avgi
- Broker: John Libretti - Progress Capital
- Address: 7 Reel St. & 283 Bayview Ave., Patchogue
Represented by John Libretti from Progress Capital, Allon Avgi successfully refinanced the multifamily property.
Players
East Patchogue 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
15.25%
Cash-on-Cash
-4.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93