Updated Nov 3, 2026
Clay Grubb Of Grubb Properties Secures $211.5M Refinance Loan From Bayview Asset Management In Long Island City
41-34 27th Street
$211,500,000
$571/SF
Building Size
370,361 SF
Asset Type
MultiFamily
Closing
Oct 14, 2026
About this deal
AI
The asset involved in this transaction is a 417-unit residential building located at 41-34 27th Street in Long Island City, Queens. The total square footage of the property is 370,361. It has been refinanced for an amount of $211.5 million.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $211,500,000
- Lender: Bayview Asset Management
- Landlord: Clay Grubb - Grubb Properties
- Loan Type: Refinance
Clay Grubb, representing Grubb Properties, secured the refinancing loan from Bayview Asset Management to enhance funding for the property in an active market environment of Long Island City.
On the Map
$211,500,000
$571/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93