New York Community Bank Provides $43.5M Loan For $63M Multifamily Sale In Jamaica Hills, Bath Beach, And Gravesend

The multifamily property located at 162-15 Highland Avenue, 8635 21st Avenue, and 8700 25th Avenue has been sold for a total price of $63,000,000. The property is situated in the neighborhoods of Jamaica Hills, Bath Beach, and Gravesend. It consists of 350 units and spans a building square footage of 161,023. The total square footage of the property is 329,714, and the price per unit is $180,000 with a price per square foot of $191.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $63,000,000
• Loan Amount: $43,500,000
• Units: 350
• Building Square Footage: 161,023
• Total Square Footage: 329,714
• Price Per Unit: $180,000
• Price Per Square Foot: $191

The lender involved in this transaction is New York Community Bank, providing a loan amount of $43,500,000.

Notable individuals involved in the deal include Richard Guarino, Eli Schron, Adam Parkoff, Rubin Schron, and Ben Koval.