Banco Popular Provides $9.75M Construction Loan For Condo On Hillside Avenue
140 Hillside Avenue
$9,750,000
$9,750,000/SF
Building Size
1 SF
Asset Type
Condo
Closing
Mar 22, 2023
About this deal
AI
The construction loan for a condo located at 140 Hillside Avenue in New York has been secured. The loan amount is $9,750,000 and it was provided by Banco Popular, with Travis Schelhorn representing the lender. The loan type is construction.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $9,750,000
- Lender: Banco Popular - Travis Schelhorn
In addition to the lender, Reuben Hedaya from Meridian Capital Group played a significant role in the deal as the broker representing the buyer or seller. Their expertise and negotiation skills contributed to the successful completion of the transaction.
On the Map
$9,750,000
$9,750,000/SF
Condo
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Players
Bridgeport Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.63%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93