Updated Oct 28, 2024
New York City Housing Development Corporation Provides $90.2M Loan For Development Site In Soundview
1001 Thieriot Avenue, Bronx, NY, USA
$90,200,000
$269/SF
Building Size
335,129 SF
Asset Type
Development Site
Closing
Jul 7, 2021
About this deal
AI
Located at 1001 Thieriot Avenue in Soundview, this development site was involved in a recent transaction. The property is a development site, offering potential for future construction and expansion. The loan amount for this transaction was $90,200,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $90,200,000
- Lender: New York City Housing Development Corporation
- Landlord: Xenolith Partners
The financing for this transaction was provided by the New York City Housing Development Corporation. Xenolith Partners served as the landlord in this deal. Terri Belkas-Mitchell, Andrea Kretchmer, and Eric Enderlin were involved as representatives in the transaction.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93