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360 Capital Funding Provides $25.5M Construction Loan For Medical Office In Dyker Heights

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FINANCED
$25,500,000

New York

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85,000 SF
Financed 09/16/2022
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Property Image
FINANCED

360 Capital Funding Provides $25.5M Construction Loan For Medical Office In Dyker Heights

1222 63rd Street, Brooklyn, New York 11219, United States

See Similar Deals
85,000 SF
Financed 09/16/2022
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Summary

NEW YORK
Price Per Square Foot:$300
Total Square Footage:85,000 SF
Transaction Type:Loan

The asset involved in this transaction is a medical office located at 1222 63rd St., in the Dyker Heights market. It encompasses a total square footage of 85,000. The loan amount for this construction financing is $25,500,000.

Summary of transaction details:

  • Property Type: Medical Office
  • Transaction Amount: $25,500,000
  • Address: 1222 63rd St.
  • Market: Dyker Heights
  • Lender: 360 Capital Funding
  • Lender's Representative: Andrew Waldman ([email protected])
  • Broker: Max Ralby ([email protected])
  • Broker's Agency: HKS Real Estate Advisors
  • Loan Type: Construction

This transaction involves Andrew Waldman representing 360 Capital Funding and Max Ralby acting on behalf of HKS Real Estate Advisors. Their collaboration facilitated the agreement for the construction loan for the medical office property.

Players

Max Ralby
74 deals$3.8B volume
BROKER

HKS Real Estate Advisors
BROKERAGE

Andrew Waldman
360 Capital Funding
4 deals$70.7M volume
LENDER

Details

FINANCED
IMAGE: Andrew Waldman & Max Ralby DATE: 09/16/2022 ADDRESS: 1222 63rd St. MARKET: Dyker Heights ASSET TYPE: Medical Office ~ SF: 85,000 LENDER: 360 Capital Funding - Andrew Waldman ([email protected]) BROKER: Max Ralby (@MaxRalby) ([email protected]) - HKS Real Estate Advisors (@HKSRealEstateAdvisors) LOAN AMOUNT: $25,500,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,500,000.00

Monthly NOI$170,000.00
Monthly Debt Service$161,177.35
Change in Cash Flow$0.00
Refinance Proceeds$0.00