Updated Oct 28, 2024
US Bank Provides $20M Loan For Multifamily Property On Queens Boulevard In Rego Park
97-45 Queens Boulevard, Rego Park, NY, USA
$20,000,000
$24,937/SF
Building Size
802 SF
Asset Type
MultiFamily
Closing
Jun 30, 2021
About this deal
AI
The multifamily property located at 97-45 Queens Boulevard in Rego Park was recently involved in a loan transaction. The loan amount of $20,000,000 was provided by U.S. Bank. The property, owned by Boulevard Leasing Limited Partnership, consists of 108 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 97-45 Queens Boulevard
- Market: Rego Park
- Lender: U.S. Bank
- Landlord: Boulevard Leasing Limited Partnership
- Units: 108
This loan transaction represents an investment in the Rego Park multifamily property. The involvement of U.S. Bank as the lender and Boulevard Leasing Limited Partnership as the landlord showcases the collaboration between financial institutions and property owners in the real estate market.
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93