Updated May 12, 2025
Richard Zavlyanov Secures $8.8M Construction Loan From Achieva Credit Union For Development Site In Brooklyn
1152 Lafayette Avenue
$8,800,000
$2,200/SF
Building Size
4,000 SF
Asset Type
Development Site
Closing
Mar 27, 2025
About this deal
AI
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.
On the Map
$8,800,000
$2,200/SF
Development Site
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Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93