Updated Oct 29, 2024
JLL Arranges $92.5M Fannie Mae Refinance Loan For Queens Multifamily Portfolio
Queens
$92,548,000
Units
1,176
Asset Type
MultiFamily
Closing
Jun 30, 2023
About this deal
AI
The David Minkin Trust has secured a loan to refinance a portfolio of multifamily properties in Queens. The portfolio consists of a total of 1,176 units, making it a substantial investment in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $92,548,000
- Address: Portfolio
- Market: Queens
- Lender: Fannie Mae
- Landlord: David Minkin Trust
- Brokers: Christopher Peck, Geoff Goldstein, Robert Tonnessen, Michael Zaremski, Michael Shmuely, and Jonathan Flynn - JLL
- Loan Type: Refinance
The financing was provided by Fannie Mae, a well-known lender in the real estate industry. The David Minkin Trust, acting as the landlord, successfully obtained a loan to support the refinance of their multifamily properties in Queens. Representing the trust in this transaction were Christopher Peck, Geoff Goldstein, Robert Tonnessen, Michael Zaremski, Michael Shmuely, and Jonathan Flynn from JLL, a reputable brokerage firm.
On the Map
$92,548,000
MultiFamily
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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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93