Updated Mar 11, 2025
Parkview Financial Provides $18.3M Construction Loan For Development Site In Yonkers
1060 Nepperhan Avenue, Yonkers, New York 10703, United States
$18,300,000
Units
949
Asset Type
Development Site
Closing
Aug 25, 2022
About this deal
AI
The development site located at 1060 Nepperhan Avenue in Yonkers has secured a construction loan from Parkview Financial. The loan amount is $18,300,000, and it will be used for the development of the property.
Summary of transaction details:
- Property Type: Development Site
- Date: 08/26/2022
- Address: 1060 Nepperhan Avenue
- Market: Yonkers
- Asset Type: Development Site
- Acres: 0.55
- Units: 949
- Lender: Parkview Financial - Paul Rahimian
- Landlord: KCT
- Loan Amount: $18,300,000
- Loan Type: Construction
Paul Rahimian, representing Parkview Financial, played a key role in securing the loan for the development site located at 1060 Nepperhan Avenue in Yonkers.
Players
City of Yonkers 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93