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Connect One Provides $20M Loan For Harlem Development Site On W. 145th St. - Kunstlinger & Bollag Represent Borrower

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FINANCED
$20,000,000
Elliott Kunstlinger
David Bollag

New York

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Development Site156,000 SF
Financed 05/25/2020
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FINANCED

Connect One Provides $20M Loan For Harlem Development Site On W. 145th St. - Kunstlinger & Bollag Represent Borrower

104 W 145th St, Manhattan, New York, NY, USA

See Similar Deals
Development Site156,000 SF
Financed 05/25/2020
Elliott Kunstlinger
David Bollag
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$128
Total Square Footage:156,000 SF
Transaction Type:Loan

Located in Harlem, the development site at 104 W. 145th St., 100-102 W. 145th St., 106-120 W. 145th St., 120-138 W. 145th St., and 140-152 W. 145th St. offers a prime investment opportunity. With a buildable square footage (BSF) of 156,000, this property is perfect for development.

Summary of transaction details

Represented by Elliott Kunstlinger and David Bollag from Meridian Capital Group, the successful deal secured a loan amount of $20,000,000 from Connect One, with Jason Pavon acting as the lender. This transaction highlights the collaborative efforts of the brokers and lender in closing this lucrative deal for the development site in Harlem.

Players

David Bollag
Meridian Capital Group
David Bollag
29 deals$928.7M volume
BROKER
Elliott Kunstlinger
Meridian Capital Group
Elliott Kunstlinger
10 deals$358.1M volume
BROKER

Details

FINANCED
IMAGE: David Bollag & Elliott Kunstlinger DATE: 05/25/2021 ADDRESS: 104 W. 145th St., 100-102 W. 145th St., 106-120 W. 145th St., 120-138 W. 145th St. & 140-152 W. 145th St. MARKET: Harlem ASSET TYPE: Development Site ~ BSF: 156,000 LENDER: Connect One - Jason Pavon BROKERS: Elliott Kunstlinger & David Bollag - Meridian Capital Group LOAN AMOUNT: $20,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$20,000,000.00

Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00