Equitas Capital Group Secures $9M Bridge Loan For Brooklyn Development Site
$9,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 1, 2023
AI
A development site in Brooklyn has secured a bridge loan of $9,000,000. The loan was facilitated by brokers Alex Leykind and Michael Tsyngauz from Equitas Capital Group. The property is a development site located in the Brooklyn market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,000,000
The loan type is a bridge loan with flexible funding structure and no pre-payment penalty. The loan closed in just three weeks, providing the borrower with quick access to capital.
Equitas Capital Group, represented by brokers Alex Leykind and Michael Tsyngauz, specializes in finding tailor-made financing solutions for commercial real estate needs. They are dedicated to helping their clients find the best terms and lowest rates. To learn more about their financing services, interested parties can contact Equitas Capital Group at 347-820-1797 or email [email protected].
Players
Covelo Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93