Bayport Funding Extends $3.2M Loan For Multifamily Project In Malverne
$3,200,000
Building Size
—
Asset Type
Development Site
Closing
Oct 25, 2023
AI
Bayport Funding, a local balance sheet lender, has extended a $3.2 million loan to support a multifamily project in Malverne, Long Island. The development site located at 1104 Hempstead Ave has a building square footage (BSF) of 38,320 and is situated in the Malverne market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Address: 1104 Hempstead Ave
- Market: Malverne
- BSF: 38,320
The loan was provided by Bayport Funding, with Marcia Kaufman representing the lending institution.
Players
Market 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
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93