S3 Capital Provides $3.9M Construction Loan For PLG Development Site
FINANCED
$3,900,000
New York
See Similar DealsFinanced 02/21/2020
FINANCED
S3 Capital Provides $3.9M Construction Loan For PLG Development Site
143 Winthrop St, Brooklyn, NY 11225, USA
See Similar DealsFinanced 02/21/2020
Summary
NEW YORK
Transaction Type:Loan
A development site located at 143 Winthrop Street in PLG, Brooklyn has been involved in a recent closed transaction. The property, spanning 9,000 square feet, was part of a deal secured by a construction loan.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,900,000
- Address: 143 Winthrop Street
- Market: PLG, Brooklyn
- Lender: S3 Capital – Steven Jemal
- Landlord: Croxdale Real Estate – Nigel Boyden
- Broker: Mercury Capital Markets – Eric Gleitman
The loan for the development site was provided by S3 Capital, with Steven Jemal representing the lender. Nigel Boyden of Croxdale Real Estate served as the landlord in the transaction, while Eric Gleitman of Mercury Capital Markets acted as the broker.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,900,000.00
Monthly NOI$26,000.00
Monthly Debt Service$24,650.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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