Updated Oct 29, 2024
Northeast Community Bank Provides $12.8M Loan For Kingsbridge Dev Site - Skyline Capital Brokers Deal
2662 Kingsbridge Terrace, The Bronx, NY 10463, USA
$12,805,000
$297/SF
Building Size
43,000 SF
Asset Type
Development Site
Closing
Sep 3, 2020
About this deal
AI
A development site located at 2662-2658 Kingsbridge Terrace in Kingsbridge, Bronx has been transacted. The property spans 43,000 square feet and consists of 36 units. The transaction was facilitated by Skyline Capital, serving as the broker for this deal.
Summary of transaction details
- Property Type: Dev Site
- Transaction Amount: $12,805,000
- Lender: Northeast Community Bank
- Landlord: Ari Thaler of MicasaLivingNY
- Broker: Skyline Capital
- Loan Terms: 24 months
Ari Thaler of MicasaLivingNY represents the landlord in the transaction, and the loan was provided by Northeast Community Bank. The loan amount for this deal is $12,805,000, with a term of 24 months. The property, comprised of 36 units, is located at 2662-2658 Kingsbridge Terrace in Kingsbridge, Bronx. Skyline Capital served as the broker for this transaction.
Players
Bronx Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Ari Thaler to view all their deals.
Browse Bronx development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93