Updated Mar 11, 2025
Oleg Krasnitskiy Secures $35M Construction Loan For Development Site On Rogers Avenue In Flatbush Brooklyn
1020 Rogers Avenue, Brooklyn, New York 11226, United States
$35,000,000
$1,944/SF
Building Size
18,003 SF
Asset Type
Development Site
Closing
Aug 30, 2022
About this deal
AI
Located at 1020 Rogers Avenue in Flatbush, Brooklyn, this development site has recently closed a loan transaction. The property is a development site with a buildable square footage (BSF) of 18,003.
Summary of transation details
- Property Type: Development site
- Transaction Amount: $35,000,000
- Date: 08/31/2022
- Lender: Ponce Bank
- Landlord: Oleg Krasnitskiy
The loan for this transaction was provided by Ponce Bank, and it amounted to $35,000,000. The loan type is construction, indicating that it will be used to finance the construction of a new property on the development site. Oleg Krasnitskiy acted as the landlord in this deal.
On the Map
$35,000,000
$1,944/SF
Development Site
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Players
Brooklyn 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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93