Citibank Refinances Acropolis Gardens Co-op In Ditmars Steinway, Queens For $68.5M
21-68 35th Street, Queens, New York 11105, United States
$68,500,000
$159,302/SF
Building Size
430 SF
Asset Type
Other
Closing
Oct 26, 2022
About this deal
AI
The loan for the property located at 21-68 35th Street in Ditmars Steinway, Queens, was recently refinanced. The co-op property has a square footage of 430,000 and consists of 617 units. The loan was provided by Citibank, with Anna Gutteridge representing the lender. Acropolis Gardens, represented by Michael Lydon, serves as the landlord for this property.
Summary of transaction details
- Property Type: Co-op
- Transaction Amount: $68,500,000
- Market: Ditmars Steinway, Queens
- Square Footage: 430,000
- Units: 617
This refinancing deal involved Citibank as the lender, with Anna Gutteridge serving as their representative. Acropolis Gardens, led by Michael Lydon, takes on the role of the landlord in this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93