Bank OZK Provides $61M Loan For Alloy Development's Dumbo Condo Project
FINANCED
$61,000,000
New York
See Similar Deals2,067 SF
Financed 03/07/2019
FINANCED
Bank OZK Provides $61M Loan For Alloy Development's Dumbo Condo Project
168 Plymouth St, Dumbo, Brooklyn, NY, USA
See Similar Deals2,067 SF
Financed 03/07/2019
Summary
NEW YORK
Price Per Square Foot:$29,511
Total Square Footage:2,067 SF
Transaction Type:Loan
A $61 million loan has been secured for a condominium in Dumbo, Brooklyn. The property is located at 168 Plymouth St. and consists of 46 units. Alloy Development, the landlord, has acquired the loan from Bank OZK.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $61 million
- Address: 168 Plymouth St.
- Market: Dumbo, Brooklyn
- Landlord: Alloy Development
- Loan Lender: Bank OZK
- BROKERS: Kristen Knapp, Peter Rotchford & Christopher Peck - HFF
- Units: 46
Kristen Knapp, Peter Rotchford, and Christopher Peck from HFF acted as brokers in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$61,000,000.00
Monthly NOI$406,666.67
Monthly Debt Service$385,561.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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