Updated Jun 5, 2025
JPMorgan Chase Provides $57.7M Loan For Multifamily Properties In Jamaica, Elmhurst & Far Rockaway
89-38 164th Street, Jamaica, NY, USA
$57,700,000
$125/SF
Building Size
460,097 SF
Asset Type
MultiFamily
Closing
Jul 1, 2021
About this deal
AI
The multifamily property located at 89-38 164th Street, 23-34 Mott Avenue, 42-25 Hampton Street, 168-42 88th Avenue & 88-44 161st Street in Jamaica, Elmhurst, and Far Rockaway has recently undergone a closed transaction. The property spans a total of 460,097 square feet and consists of 553 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $57,700,000
- Lender: JPMorgan Chase
- Landlord: Bawa Mallick
JPMorgan Chase provided a loan amount of $57,700,000 for this multifamily property transaction. The property owner, Bawa Mallick, was involved in the deal as the landlord.
Note: No additional information is available in the given context.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93