Zara Realty Holding Secures $47M Refinance Loan From Customers Bank For Jamaica Multifamily Properties

The property involved in this transaction is a multifamily asset located at 87 50 167th Street in Jamaica Hills, Queens, comprising a total of 266 residential units. The refinancing loan secured for this asset amounts to $47,000,000, facilitated by Customers Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $47,000,000
• Lender: Customers Bank
• Landlord: Amir Sobhraj & Anthony Sobhraj - Zara Realty Holding
• Market: Jamaica Hills, Queens

Key individuals in this transaction include Amir Sobhraj and Anthony Sobhraj, who represent Zara Realty Holding. This company, through Hillside Place LLC, has executed this refinancing to bolster its portfolio of residential elevator properties in the region.