S3 Capital Provides $9.65M Construction Loan For East Morrisania Development Site
FINANCED
$9,650,000
New York
See Similar DealsDevelopment Site1 SF
FINANCED
S3 Capital Provides $9.65M Construction Loan For East Morrisania Development Site
1172 Fox Street, The Bronx, New York 10459, United States
See Similar DealsDevelopment Site1 SF
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$9,650,000
Total Square Footage:1 SF
Transaction Type:Loan
The property involved in this transaction is a development site located at 1172 Fox Street in the East Morrisania neighborhood of the Bronx. The site spans 1,188 square feet and has a buildable square footage of 40,736. The property is owned by Pinches Abowitz.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $9,650,000
- Market: East Morrisania, Bronx
- Lender: S3 Capital
- Landlord: Pinches Abowitz
- Loan Type: Construction
S3 Capital provided a construction loan of $9,650,000 for the development of 1172 Fox Street. The loan was secured by Pinches Abowitz and will be used to fund the construction of a new project on the site.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,650,000.00
Monthly NOI$64,333.33
Monthly Debt Service$60,994.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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