Marcus & Millichap arranges $3.375 million financing for two multifamily properties in Queens

41-49 45^th Street, Long Island City - Queens, NY

Long Island City, NY Marcus & Millichap Capital Corp. (MMCC) arranged $3.375 million in financing for the acquisition of two 16-unit multifamily properties located at 41-49 45^th St. and 45-07 43^rd Ave.

Steve Filippo, managing director in MMCC’s New York City office, secured 15-year financing at 70% loan-to-value with a national bank on behalf of a private client. Additional loan terms include a 6.12% interest rate and 30-year amortization period.

“Despite a tighter lending environment, we were able to structure competitive bank financing that aligned with the borrower’s long-term investment strategy,” said Filippo. “The properties’ location and stable multifamily fundamentals in Long Island City were key in securing favorable terms.”

The properties are located adjacent to one another and feature a mix of one- and two-bedroom units. The ground floors of both buildings feature retail space, and the nearest subway station is approximately a three-minute walk.

Tags: Brokerage New York City Multifamily

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