TD Bank Provides $24.5M Loan For Rego Park Multifamily Acquisition
FINANCED
$24,500,000
New York
See Similar DealsMultiFamily872,349 SF
Financed 05/27/2021
FINANCED
TD Bank Provides $24.5M Loan For Rego Park Multifamily Acquisition
98-01 67th Avenue, Rego Park, Queens County, NY, USA
See Similar DealsMultiFamily872,349 SF
Financed 05/27/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$28
Total Square Footage:872,349 SF
Transaction Type:Loan
An $24,500,000 loan has been acquired by LeFrak for a multifamily property in Rego Park, Queens. The property consists of four buildings located at 98-01 67th Avenue, 64-20 Saunders Street, and 97-05 & 97-11 Horace Harding Expressway, with a total square footage of 872,349 and 912 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $24,500,000
- Lender: TD Bank
- Landlord: LeFrak
- Market: Rego Park, Queens
TD Bank provided the loan for this transaction, while LeFrak acted as the landlord in acquiring the property.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,500,000.00
Monthly NOI$163,333.33
Monthly Debt Service$154,856.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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