JPMorgan Chase Provides $25.4M Refinance Loan For Multifamily Property In Jackson Heights
FINANCED
$25,425,000
New York
See Similar DealsMultiFamily147,000 SF
Financed 06/08/2022
FINANCED
JPMorgan Chase Provides $25.4M Refinance Loan For Multifamily Property In Jackson Heights
74-10 35th Avenue, Queens, New York 11372, United States
See Similar DealsMultiFamily147,000 SF
Financed 06/08/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:147,000 SF
Transaction Type:Loan
Rakesh Agarwal and Roseann Schmid have secured a loan refinance for their multifamily property located at 74-10 35th Avenue in Jackson Heights. The property has a total square footage of 147,000, accommodating 210 units. The loan was provided by JPMorgan Chase for the amount of $25,425,000. The landlords of the property are ABC Properties and Fisher Associates.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,425,000
- Address: 74-10 35th Avenue
- Market: Jackson Heights
- Loan Type: Refinance
JPMorgan Chase served as the lender for this loan transaction. The property owners, ABC Properties and Fisher Associates, successfully secured the loan to refinance their multifamily property in Jackson Heights.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,425,000.00
Monthly NOI$169,500.00
Monthly Debt Service$160,703.29
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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