Updated Feb 16, 2024
Roey Realty Refinances Multifamily Property In Astoria, Queens For $8.2M At 5.25% Fixed Rate
11-16 Main Ave, Astoria, NY 11102, USA
$16,250,000
$714/SF
Building Size
22,756 SF
Asset Type
MultiFamily
Closing
Mar 15, 2020
About this deal
AI
The multifamily property located in Astoria, Queens has been refinanced through a loan transaction. The property spans approximately 16,000 square feet and is situated in the Astoria market. The loan, facilitated by Esti Broyde from Roey Realty, amounted to $8,200,000. The refinancing loan is of the type and comes with a fixed interest rate of 5.25%. It has a term of 5 years with an earn-out provision once the property is stabilized.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $8,200,000
- Loan Type: Refinance
- Loan Terms: 5.25% fixed rate, 5-year term
- Market: Astoria, Queens
- Asset Size: 16,000 square feet
Leading the transaction was Esti Broyde from Roey Realty, serving as the broker for the deal. Their expertise ensured a successful refinancing of the property in Astoria, Queens.
On the Map
$16,250,000
$714/SF
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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93