Granite Point Mortgage Trust Provides $75.6M Loan For Long Island City Rental
11-15 46th Ave, Long Island City, NY 11101, USA
$75,600,000
$1,989/SF
Building Size
38,000 SF
Asset Type
Other
Closing
Sep 24, 2019
About this deal
AI
An appartment rental property located at 11-15 46th Avenue in Long Island City, Queens has been recently closed. The property is owned by GDC Properties and was financed by Granite Point Mortgage Trust. The loan amount for this transaction was $75,600,000.
Summary of transaction details:
- Property Type: Rental
- Transaction Amount: $75,600,000
- Lender: Granite Point Mortgage Trust
- Landlord: GDC Properties
- Brokers: AKS Capital Partners - Aaron Appel, Keith Kurland, Jonathan & Adam Schwartz
AKS Capital Partners, represented by Aaron Appel, Keith Kurland, Jonathan, and Adam Schwartz, played a significant role as brokers in this deal.
On the Map
$75,600,000
$1,989/SF
Other
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93