John Ilibassi borrows $11M from Capital One to refi multifamily property in Sunnyside

John Ilibassi through the entity Sunnyside Five LLC as borrower signed a loan agreement with lender Capital One valued at $11.4 million for 5 parcels, including the tax class multifamily, over six families without stores (C1) and containing 107 residential units at 45-56 47th Avenue, 45-55 41st Street, 45-35 42nd Street, 45-19 42nd Street, 43-13 41st Street in Sunnyside. The deal closed on April 30, 2020 and was recorded on May 11, 2020.

The average loan per unit is $106,075.
The last time the properties sold was June 10, 2013, when Ilibassi acquired them for $20.45 million.

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