facebook
Traded Co logo
Submit

Apex Building Group Secures $103.9M Construction Loan For Development Site On Seaview Ave In East New York, Brooklyn

Property Image
FINANCED
$103,932,165

New York

See Similar Deals
Development Site613,818 SF
Financed 06/16/2022
the dealplayerscompscontact
Property Image
FINANCED

Apex Building Group Secures $103.9M Construction Loan For Development Site On Seaview Ave In East New York, Brooklyn

11655 Seaview Avenue, Brooklyn, New York 11236, United States

See Similar Deals
Development Site613,818 SF
Financed 06/16/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$169
Total Square Footage:613,818 SF
Transaction Type:Loan

The development site located at 11655 Seaview Avenue in East New York, Brooklyn, has been involved in a loan transaction. The property has a total buildable square footage (BSF) of 613,818 and is designed for 123 residential units. The loan, provided by the New York State Housing Finance Agency, is for the purpose of construction.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $103,932,165
  • Address: 11655 Seaview Avenue
  • Market: East New York, Brooklyn
  • BSF: 613,818
  • Units: 123

Apex Building Group, represented by Lee A. Brathwaite, is the landlord overseeing the development site. The loan amount of $103,932,165 from the New York State Housing Finance Agency will facilitate the construction process.

Players

New York State Housing Finance Agency
New York State Housing Finance Agency
LENDER

Details

FINANCED
IMAGE: Lee A. Brathwaite DATE: 06/16/2022 ADDRESS: 11655 Seaview Avenue MARKET: East New York, Brooklyn ASSET TYPE: Development Site ~ BSF: 613,818 ~ UNITS: 123 LENDER: NYS Housing Finance Agency LANDLORD: Apex Building Group - Lee A. Brathwaite LOAN AMOUNT: $103,932,165 LOAN TYPE: Сonstruction

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$103,932,165.00

Monthly NOI$692,881.10
Monthly Debt Service$656,921.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00