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Bayport Funding Extends $3.2M Loan For Multifamily Project In Malverne
FINANCED
$3,200,000
New York
See Similar DealsDevelopment Site
Financed 10/25/2023
FINANCED
Bayport Funding Extends $3.2M Loan For Multifamily Project In Malverne
Development Site
Financed 10/25/2023
Summary
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,200,000.00
Monthly NOI$21,333.33
Monthly Debt Service$20,226.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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