Rubin Schron's Co-op In Queens Secures $29.3M Loan From NewPoint Real Estate Capital
71-27 147th Street, Queens, Flushing, NY, USA
$29,300,000
$158/SF
Building Size
184,592 SF
Asset Type
Other
Closing
Jul 28, 2021
AI
Rubin Schron, through his company Cammeby’s International Group, has obtained a loan for the co-op properties located at 71-27 147th Street and 71-01 150th Street in Queens. The loan was provided by NewPoint Real Estate Capital for an amount of $29,300,000. The properties have a total square footage of 184,592 and consist of 200 units.
Summary of transaction details
- Property Type: Co-op
- Transaction Amount: $29,300,000
- Market: Queens
- Address: 71-27 147th Street & 71-01 150th Street
- Lender: NewPoint Real Estate Capital
- Landlord: Rubin Schron - Cammeby’s International Group
- Square Footage: 184,592
- Units: 200
Rubin Schron, representing Cammeby’s International Group, successfully secured the loan for these co-op properties in Queens. This transaction highlights the involvement of NewPoint Real Estate Capital as the lender in supporting the acquisition and operation of these properties. This deal further solidifies Schron's presence in the real estate market as a key player in the Queens area.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93