Updated Dec 21, 2023
S3 Capital Provides $5M Construction Loan For Commercial Property In Greenpoint
70 Eckford Street
$5,000,000
$781/SF
Building Size
6,401 SF
Asset Type
Commercial
Closing
Dec 30, 2022
About this deal
AI
The commercial property located at 70 Eckford Street in Greenpoint has been involved in a recent loan transaction. The property has a total square footage of 6,401 and a buildable square footage of 12,802.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $5,000,000
- Loan Type: Construction
- Lender: S3 Capital - Joshua Crane
- Landlord: Naftoli Jacobowitz
S3 Capital, represented by Joshua Crane, provided a loan amount of $5,000,000 for the construction of the commercial property at 70 Eckford Street. The loan will support the development and improvement of the property as per the landlord's plans.
Players
Brooklyn Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93