Updated Dec 20, 2023
BHI USA Provides $12.5M Loan For Development Site In New Rochelle
43 Church St, St. Catharines, On L2 R 7 E1, Canada
$12,500,000
$36/SF
Building Size
345,000 SF
Asset Type
Development Site
Closing
Jun 4, 2020
About this deal
AI
The development site located at 43 Church Street in New Rochelle has been involved in a recent transaction. The property, primarily designated as a hotel development site, was the subject of a closed deal. The transaction took place on 6th May 2020, involving the following parties: Daniel Hopkins, Zahra Jafri, and Varghese Ninan.
Summary of transation details
- Property Type: Development Site (Hotel)
- Transaction Amount: $12,500,000
- Lender: BHI USA
- Landlord: Varghese Ninan
- Brokers: Lynx Mortgage Bank LLC Commercial Division
- Square Footage: 34,500 SF
The mortgage for the transaction was provided by BHI USA, and Lynx Mortgage Bank LLC Commercial Division acted as the brokers representing the parties involved in the deal. The loan amount for the transaction was $12,500,000.
Players
St Catharines Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93