Cohen of Leviathan Capital arranges $19.5 million permanent loan for 82-unit Astoria building

Queens, NY Yaniv Cohen of Leviathan Capital arranged a $19.5 million permanent loan for a fully amenitized luxury building, from a private bank, beating both CMBS and agency terms.

The 82-unit building in Astoria, had an expiring 421-a tax abatement burning off in the next two years, and was coming out of very low interest rate loan. Leviathan was able to secure a wider-than-normal amortization schedule to help offset difficulty of much higher taxes and a much higher interest rate environment