Oleg Krasnitskiy Secures $35M Construction Loan For Development Site On Rogers Avenue In Flatbush Brooklyn
FINANCED
$35,000,000
New York
See Similar DealsDevelopment Site18,003 SF
Financed 08/31/2022
FINANCED
Oleg Krasnitskiy Secures $35M Construction Loan For Development Site On Rogers Avenue In Flatbush Brooklyn
1020 Rogers Avenue, Brooklyn, New York 11226, United States
See Similar DealsDevelopment Site18,003 SF
Financed 08/31/2022
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$1,944
Total Square Footage:18,003 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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