Updated Oct 28, 2024
Zara Realty Holding Refinances Jamaica, Queens Multifamily Property With $72.2M Loan From Signature Bank
88-25 148th Street, Queens, New York 11435, United States
$72,200,000
$239/SF
Building Size
301,386 SF
Asset Type
MultiFamily
Closing
Jun 20, 2022
About this deal
AI
The multifamily property located at 88-25 148th Street, 148-48 88th Avenue & 88-09 148th Street in Jamaica, Queens, has recently undergone a refinancing transaction. The property spans approximately 301,386 square feet and consists of 358 units. The transaction took place on 06/21/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $72,200,000
- Market: Jamaica, Queens
- Address: 88-25 148th Street, 148-48 88th Avenue & 88-09 148th Street
- Lender: Signature Bank - Michael Riegler
- Landlord: Zara Realty Holding - Rajesh Anthony Subraj
The loan for the refinancing was provided by Signature Bank, with Michael Riegler representing the bank in the transaction. The landlord involved in the deal is Zara Realty Holding, with Rajesh Anthony Subraj representing the company.
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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93