Updated Dec 21, 2023
Equitas Capital Group Refinances Multifamily Property In Jamaica With $14.3M Loan
88-56 162nd Street, Queens, New York 11432, United States
$14,304,000
$290/SF
Building Size
49,250 SF
Asset Type
MultiFamily
Closing
Nov 19, 2021
About this deal
AI
Equitas Capital Group has successfully facilitated the refinancing of a multifamily property located at 88-56/60 162nd St. in Jamaica. The property spans approximately 49,250 square feet and is situated in the thriving Jamaica market.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $14,304,000
- Loan Type: Refinance
- Loan Terms: 3.8% rate, 10 years fixed with 5 years interest only, 90% LTC, 75% LTV
The broker representing Equitas Capital Group in this transaction was Alex Leykind from Equitas Capital Group. With a commitment to personalized service, Equitas Capital Group understands the unique needs and challenges of each client. Through their dedicated team of experts and market-leading technology, they strive to find the most favorable loan options with low rates and high benefits in a timely manner. For more information on how Equitas Capital Group can assist with finding the best loans for commercial properties, please contact them at 646.637.7510.
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
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93