Updated Oct 29, 2024
Urban Standard Capital Provides $7M Acquisition Loan For Development Site In New York
625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225
$7,000,000
Building Size
—
Asset Type
Development Site
Closing
Feb 22, 2023
About this deal
AI
A development site located at 625 New York Ave & 447 Fenimore Street in New York has been involved in a loan transaction. The loan amount for this acquisition was $7,000,000. The lender in this transaction was Urban Standard Capital.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Lender: Urban Standard Capital
For all acquisition, bridge, and construction lending opportunities, email Charlie Brosens ([email protected]) & Harrison Rowen ([email protected]).
The development site loan at 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 financed for $7M in 2023. 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 is classified as Development Site on Traded. Named participants on the 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 loan are Charlie Brosens, Harrison Rowen. This page is the market file for the 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 development site financed: pricing, party profiles, and other closed development site comps from the same area sit in the Market section below. Filter that local development site set by closing date to see what else financed near 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 around 2023. Published consideration for 625 New York Ave, Brooklyn, New York 11203 + 447 Fenimore Street, Brooklyn, New York 11225 is $7M, dated 2023. Cite this Urban Standard Capital Provides $7M Acquisition Loan For Development Site In New York loan when underwriting similar development site product.
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Market Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93