facebook
Traded Co logo
Submit

Monadnock Development Secures $107.9M Construction Loan For East New York Specialty Property

Property Image
FINANCED
$107,898,444

New York

See Similar Deals
Financed 12/22/2022
the dealplayerscompscontact
Property Image
FINANCED

Monadnock Development Secures $107.9M Construction Loan For East New York Specialty Property

414 Vandalia Avenue, East New York,New Yor, 461 Vandalia Avenue,East New York,New York & 71 Gateway Drive,East New York,New York

See Similar Deals
Financed 12/22/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Transaction Type:Loan

Monadnock Development, a real estate development company, has recently secured a construction loan for their specialty property located at 414 & 461 Vandalia Avenue & 71 Gateway Drive in East New York. The loan was provided by the NYC Housing Development Corporation and facilitated by Lauren Connors, a representative of the corporation.

Summary of transaction details

  • Property Type: Specialty
  • Transaction Amount: $107,898,444
  • Loan Type: Construction
  • Address: 414 & 461 Vandalia Avenue & 71 Gateway Drive
  • Market: East New York
  • Landlord: Monadnock Development
  • Lender: NYC Housing Development Corporation
  • Lender's Representative: Lauren Connors

Nicholas Lembo, a representative of Monadnock Development, played a vital role in securing the loan for this project. The specialty property, with its unique features and potential, presents an exciting investment opportunity for the developer and the local community in East New York.

Details

FINANCED
IMAGE: Nicholas Lembo DATE: 12/22/2022 ADDRESS: 414 & 461 Vandalia Avenue & 71 Gateway Drive MARKET: East New York ASSET TYPE: Specialty LENDER: NYC Housing Development Corporation - Lauren Connors LANDLORD: Monadnock Development (@MonadnockConstruction) - Nicholas Lembo LOAN AMOUNT: $107,898,444 LOAN TYPE: Construction

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$107,898,444.00

Monthly NOI$719,322.96
Monthly Debt Service$681,991.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00