Updated May 12, 2025
Brix Real Estate Advisors Provides $1.6M Construction Loan For Development Site In Westchester County
11 Lyman Pl Dobbs Ferry, NY 10522, USA
$1,600,000
Building Size
—
Asset Type
Development Site
Closing
Jun 28, 2023
About this deal
AI
The asset involved in this transaction is a development site located at 11 Lyman Place in Westchester County. The property is designated for the acquisition and construction of two single-family homes, highlighted by a loan amount of $1,600,000, specifically for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Lender: Brix Real Estate Advisors
- Landlord: Rick Bellowtz
- Brokers: Matthew Barbaccia - Brix Real Estate Advisors
- Loan Terms: Acquisition and construction financing for subdivision and ground-up construction.
This transaction was facilitated by Matthew Barbaccia representing Brix Real Estate Advisors. The structure of the deal emphasizes the involvement of qualified individuals and companies in the development process, ensuring the execution of the planned construction activities.
Players
New York 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93