Arbor Realty Trust Provides $3.6M Loan For Multifamily Property In Corona, Queens
FINANCED
$3,575,000
New York
See Similar DealsMultiFamily19,952 SF
Financed 02/12/2021
FINANCED
Arbor Realty Trust Provides $3.6M Loan For Multifamily Property In Corona, Queens
99-42 41st Avenue, Flushing, NY, USA
See Similar DealsMultiFamily19,952 SF
Financed 02/12/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$179
Total Square Footage:19,952 SF
Transaction Type:Loan
Located at 99-42 41st Avenue in Corona, Queens, this multifamily property has recently closed a transaction. The property is situated in a bustling market and offers great potential for investors.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,575,000
- Lender: Arbor Realty Trust
- Originator: Jonathan Mendes
- Landlord: Kevin Shanker
Jonathan Mendes from Arbor Realty Trust played a key role as the loan originator in this transaction. Representing the landlord, Kevin Shanker, Mendes successfully secured a loan amount of $3,575,000 for the purchase of this multifamily property. This deal highlights the collaboration between the lender and the landlord, showcasing their expertise in the real estate market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,575,000.00
Monthly NOI$23,833.33
Monthly Debt Service$22,596.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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