Deutsche Bank Refis Queens Multifamily Property With $55M Loan
By Andrew Coen October 25, 2022 3:30 pm
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A&E Real Estate has secured a $54.6 million debt package to refinance a multifamily asset in Flushing, Queens, property records show.
Deutsche Bank provided the loan on A&E’s 126-unit, six-story property at 132-57 Sanford Avenue.
The 1951-built complex is part of a six-building, 428-unit Queens multifamily portfolio spanning 388,768 square feet. A&E purchased the complex for $127.5 million from Treetop Development and the Weinroth family in 2018, Real Estate Weekly reported at the time.
The portfolio’s other Flushing properties are at 132-25 Maple Avenue, 132-48 41st Road, 132-45 Maple Avenue and 132-61 Sanford Avenue. The Elmurst asset in the portfolio is at 41-40 Denman Street.
Deutsche Bank and A&E Real Estate declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
