Mercury Capital Markets Secures $3.7M Ground Up Condo Construction Loan In Bushwick, Brooklyn
FINANCED
$1,170,000
New York
See Similar DealsDevelopment Site2,700 SF
Financed 11/29/2020
FINANCED
Mercury Capital Markets Secures $3.7M Ground Up Condo Construction Loan In Bushwick, Brooklyn
1066 Jefferson Ave, Brooklyn, NY 11221, USA
See Similar DealsDevelopment Site2,700 SF
Financed 11/29/2020
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$433
Total Square Footage:2,700 SF
Transaction Type:Loan
An development site located at 1066 Jefferson Ave in Bushwick, Brooklyn has been involved in a closed property transaction. The property, owned by Nigel Boyden of Croxdale Real Estate, was the subject of a ground-up condo construction loan provided by S3 Capital Partners. The loan amount for the project was $3,700,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,700,000
- Address: 1066 Jefferson Ave
- Market: Bushwick, Brooklyn
Eric Gleitman of Mercury Capital Markets acted as the broker in this deal. Daniel Rothman, from Rothman Law PLLC, served as the attorney for the transaction.
Players
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,170,000.00
Monthly NOI$7,800.00
Monthly Debt Service$7,395.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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