Queens multifamily landlord receives $71M refinancing package from Capital One

Money goes toward buildings scattered throughout eastern Queens

Aug.August 30, 2018 02:07 PM

From left: 89-21 Elmhurst Avenue and 41-11 Elbertson Street in Elmhurst (Credit: Google Maps and Apartments)

Central Queens Properties has received $71 million in refinancing from Capital One Bank for nine of its residential buildings in the eastern part of the borough.

The deal includes a new $31 million mortgage and a refinancing of $40 million in outstanding debt, according to Commercial Observer. One of the nine properties is a seven-story building at 89-21 Elmhurst Avenue in Elmhurst, which had the most 311 complaints about poor heating throughout the city last year.

Other properties include 41-11 Elbertson Street in Elmhurst and 439 Beach 22nd Street in Far Rockaway. Multiple buildings are also in Jamaica near the transit hub connecting the subway, the AirTrain and the Long Island Rail Road to John F. Kennedy International Airport. [CO] – Eddie Small

Related Articles

With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Gary Barnett, Central Park Tower, and the Tel Aviv Stock Exchange Bull (Credit: Wikipedia, iStock)

Extell’s Israeli bonds put on downgrade watch

RCP CEO Richard O’Toole and Related CFO David Zussman (Credit: O’Toole via Westchester Magazine and Zussman via Related)

Related tries to calm Israeli investors after market panic

Apollo Commercial Real Estate Finance CEO Stuart Rothstein and RedSky Capital principal Benjamin Bernstein (Credit: Apollo and ICSC)

Brooklyn development’s $150M loan falls into default

EB-5 could be brought back to life (Credit: iStock)

Could a pandemic bring EB-5 back to life?

Nonbank mortgage lenders could be left holding the bag for as much as $100 billion in late payments (Credit: iStock)

“It’s going to be a liquidity tsunami:” Mortgage firms gear up for missed payments

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth