Croxdale Real Estate Acquires Development Site In Brooklyn, NY For $2.55M
FINANCED
$2,550,000
National
See Similar DealsFinanced 11/29/2020
FINANCED
Croxdale Real Estate Acquires Development Site In Brooklyn, NY For $2.55M
Financed 11/29/2020
Summary
Transaction Type:Loan
Located at 246 Maple Street in Brooklyn, NY, this development site is a prime investment opportunity in the thriving real estate market. The property is an 8-unit condo development site, offering potential for significant returns. The transaction involved a loan amount of $2,550,000 from Firm Capital, with Eli Dadouch as the lender.
Summary of transaction details:
- Property Type: Development Site – 8 Unit Condo
- Transaction Amount: $2,550,000
- Lender: Firm Capital – Eli Dadouch
Croxdale Real Estate, represented by Nigel Boyden, acted as the developer for this project. Eric Gleitman, from Mercury Capital Markets, played a crucial role as the broker in facilitating this deal. With their expertise and industry knowledge, they ensured the success of this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,550,000.00
Monthly NOI$17,000.00
Monthly Debt Service$16,117.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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