Updated Oct 28, 2024
S3 Capital Partners Provides $13.5M Refinance & Construction Loan For Multifamily In Astoria, Queens
9-24 Main Avenue, Queens, New York 11102, United States
$13,500,000
$714/SF
Building Size
18,894 SF
Asset Type
MultiFamily
Closing
Feb 8, 2022
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 9-24 Main Avenue in the market of Astoria, Queens. The property spans a total square footage of 18,894 and comprises 31 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,500,000
- Market: Astoria, Queens
- Square Footage: 18,894
- Units: 31
S3 Capital Partners, represented by Robert Schwartz and Andrew Yakubovich, provided the financing for this transaction. The loan amount was $13,500,000 and it consisted of a refinance and construction loan. For any loan inquiries, interested parties can reach out to Andrew Yakubovich at [email protected].
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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93