Updated Oct 25, 2024
G4 Capital Partners Provides $40M Construction Loan For Multifamily Development In Jamaica, Queens
80-20 East 153rd Street, Bronx, NY 10451, USA
$40,000,000
Units
207
Asset Type
MultiFamily
Closing
Jun 29, 2020
About this deal
AI
The property asset involved in this transaction is a Multifamily building located at 80-20 153rd Street in Jamaica, Queens. The building consists of 207 units and is part of the Park Hill City Development.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 80-20 153rd Street
- Market: Jamaica, Queens
- Lender: G4 Capital Partners - Jason Behfarin & Robyn Sorid
- Landlord: Joseph Chetrit
- Broker: Henry Bodek - Galaxy Capital Solutions
- Loan Terms: Construction financing for 207 affordable units
The key individuals and companies involved in this deal are Jason Behfarin and Robyn Sorid from G4 Capital Partners, who provided the loan for the project. Joseph Chetrit is the landlord of the property. Henry Bodek from Galaxy Capital Solutions represented the parties involved in the transaction as the broker.
Players
New York 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93