Phipps Houses Acquires Housing Complex In Far Rockaway For $233.3M
20-02 Mott Ave, Far Rockaway, NY 11691, USA
$233,300,000
$414/SF
Building Size
563,404 SF
Asset Type
Other
Closing
Jul 22, 2018
About this deal
AI
A housing complex located at 20-02 Mott Avenue in Far Rockaway, New York recently underwent a closed transaction. The deal was facilitated by the lender, NYCHDC, and the landlord/developer, Phipps Houses – Weinstein. The transaction amounted to $233,300,000.
Summary of transaction details
- Property Type: Housing Complex
- Transaction Amount: $233,300,000
- Lender: NYCHDC
- Landlord/Developer: Phipps Houses – Weinstein
Adam Weinstein and Eric Enderlin played key roles in the transaction. They were involved in overseeing the deal, representing their respective agencies.
The other loan at 20-02 Mott Ave, Far Rockaway, NY 11691, USA in New York, New York financed for $233.3M in 2018. The building is 563,404 square feet, implying about 414 per square foot on the published price. This page is the New York, New York file for the 20-02 Mott Ave, Far Rockaway, NY 11691, USA other financed: pricing, party profiles, and other closed other comps from the same New York sit in the Market section below. Filter that New York other set by closing date to see what else financed near 20-02 Mott Ave, Far Rockaway, NY 11691, USA around 2018. Published consideration for 20-02 Mott Ave, Far Rockaway, NY 11691, USA is $233.3M, dated 2018. Cite this Phipps Houses Acquires Housing Complex In Far Rockaway For $233.3M loan when underwriting similar other product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93