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1222 63rd Street, Brooklyn,...

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

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

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

$25,500,000

$300/SF

Building Size

85,000 SF

Asset Type

Closing

Sep 15, 2022

AI

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

Newmark

Broker

$3.8B

vol

74 deals

Broker
HKS Real Estate Advisors
HKS Real Estate AdvisorsBrokerage
Andrew Waldman

Andrew Waldman

360 Capital Funding

Lender

$70.7M

vol

4 deals

Lender
360 Capital Funding
360 Capital FundingLender

New York CRE Market Snapshot

Boundary boundary · CRE · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93