Updated Dec 4, 2024
Moses Wertheimer Secures $10 Million Loan From Levon Capital For Development Site In Bedford-Stuyvesant
11 Spencer Street
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
Jul 5, 2024
About this deal
AI
The asset involved in this transaction is a development site located at 11 Spencer Street in Bedford-Stuyvesant, Brooklyn. The loan amount secured for this property is $10,000,000.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Lender: Levon Capital
- Landlord: Moses Wertheimer
- Company: The W Group Of Brooklyn LLC
Moses Wertheimer, representing The W Group Of Brooklyn LLC, has secured the loan for the development of a new building on the site. Levon Capital facilitated the financing for this project, marking a significant step in the development process in this market area.
On the Map
$10,000,000
Development Site
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Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93