Updated Mar 11, 2025
BridgeCity Capital Provides $10.4M Construction Loan For Development Site In Brooklyn
104 Frost Street
$10,400,000
$2,080/SF
Building Size
5,000 SF
Asset Type
Development Site
Closing
May 2, 2023
About this deal
AI
A development site located at 104 Frost Street in Brooklyn, New York has recently secured a construction loan. The property spans approximately 5,000 square feet and consists of 20 units. The loan, provided by BridgeCity Capital, amounts to $10,400,000. This financing will support the construction of the development site.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,400,000
- Address: 104 Frost Street, Brooklyn, New York
- Market: Brooklyn, New York
- Size: 5,000 square feet
- Units: 20
BridgeCity Capital, the lender in this transaction, specializes in financing mixed-use, residential, industrial, and construction projects. They actively provide funding for projects in the Tri-State Area, South Florida, and various other states. For loan inquiries, interested parties can visit their website at www.bridgecityfunding.com or contact Louis at [email protected].
Players
Market 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
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93