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
New York CRE Market Snapshot
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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