J&J Investment Properties Refinances Student Housing In Hudson Valley For $12M
199 Quail Street, Albany, NY 12203, USA
$12,000,000
$187/SF
Building Size
64,000 SF
Asset Type
Other
Closing
Sep 13, 2021
About this deal
AI
Located at 199 Quail St. in the Hudson Valley market, this student housing property spans approximately 64,000 square feet. The property, owned by J&J Investment Properties represented by Justin Schmiemann and Jay Corallo, recently underwent a closed transaction for a loan refinance.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $12,000,000
- Address: 199 Quail St.
- Market: Hudson Valley
- Lender: The Bank Of Greene County
- Landlord: J&J Investment Properties - Justin Schmiemann & Jay Corallo
- Broker: Alexander Ebel - First Hudson Mortgage Company
Notable in this deal is the loan refinance provided by The Bank Of Greene County. The property's landlord, J&J Investment Properties, was represented by Justin Schmiemann and Jay Corallo. The broker facilitating the transaction was Alexander Ebel of First Hudson Mortgage Company. This cash-out refinance on a unique student housing property in Albany, NY demonstrates the expertise and services offered by First Hudson Mortgage Company.
Note from @FirstHudsonMortgage: Cash-Out Refinance on Unique Property Type in Albany, NY
For more information, contact Alexander Ebel at First Hudson Mortgage Company:
Phone: 845-544-0092
Email: [email protected]
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93