Richard Zavlyanov Secures $8.8M Construction Loan From Achieva Credit Union For Development Site In Brooklyn
FINANCED
$8,800,000
New York
See Similar DealsDevelopment Site4,000 SF
Financed 03/27/2025
FINANCED
Richard Zavlyanov Secures $8.8M Construction Loan From Achieva Credit Union For Development Site In Brooklyn
1152 Lafayette Avenue
See Similar DealsDevelopment Site4,000 SF
Financed 03/27/2025
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$2,200
Total Square Footage:4,000 SF
Transaction Type:Loan
The asset involved is a development site located at 1152 Lafayette Avenue in Brooklyn. The site has a total square footage of 4,000, with a building square footage of 15,500. The construction loan amount secured for this development site is $8,800,000, with a fixed interest rate of 7.3% over a term of 24 months.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,800,000
- Lender: Achieva Credit Union
- Developer: Richard Zavlyanov
- Loan Type: Construction
- Loan Terms: 7.3% Fixed 24 Months
Richard Zavlyanov is noted as the developer for this project, working in conjunction with Achieva Credit Union, the lender providing the construction financing for this development site transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,800,000.00
Monthly NOI$58,666.67
Monthly Debt Service$55,621.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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