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Bayport Funding Grants $6.15M Bridge Loan For Astoria Development Site
FINANCED
$6,150,000
British Columbia
See Similar DealsDevelopment Site
Financed 07/12/2023
FINANCED
Bayport Funding Grants $6.15M Bridge Loan For Astoria Development Site
1435 Broadway Queens, Ny 11106, Usa
See Similar DealsDevelopment Site
Financed 07/12/2023
Summary
Asset Type:Development Site
Transaction Type:Loan
A bridge loan of $6.15 million has been secured from Bayport Funding for the construction of a multifamily development site located at 1435 Broadway in Astoria, Queens. The property is owned by Roz Broadway LIC, LLC.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $6,150,000
- Loan Type: Bridge loan
- Lender: Bayport Funding - Marcia Kaufman
- Landlord: Roz Broadway LIC, LLC
Bayport Funding, represented by Marcia Kaufman, has provided a bridge loan of $6.15 million for the construction project at 1435 Broadway. The loan will support the development of the multifamily property in Astoria, Queens.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,150,000.00
Monthly NOI$41,000.00
Monthly Debt Service$38,872.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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