Updated Oct 29, 2024
Brandon Miller And Ted Robottom Of Real Estate Equities Corp Acquire Development Site In Chelsea, New York. Loan Amount $14M
118 10th Ave, New York, NY 10011, USA
$14,000,000
$14/SF
Building Size
1,000,000 SF
Asset Type
Development Site
Closing
Oct 1, 2018
About this deal
AI
The development site located at 118 10th Avenue in Chelsea, New York has recently undergone a closed property transaction. The property is owned by Real Estate Equities Corp (REEC), represented by Brandon Miller and Mark Seigel. The total loan amount for this transaction is $14 million, provided by ROC Capital, with Arvind Raghunathan as the lender. The loan is structured as a bridge loan with interest-only terms.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $14 million
- Address: 118 10th Avenue, Chelsea, New York
- Market: Chelsea, New York
- Lender: ROC Capital
- Lender Representative: Arvind Raghunathan
- Landlord: Real Estate Equities Corp (REEC)
- Landlord Representatives: Brandon Miller & Mark Seigel
In addition, the deal involves the following individuals: Brandon Miller, Ted Robottom from Real Estate Equities Corp, and Ranajoy Sarkar from ROC Capital. The transaction took place on October 2, 2018.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Brett Siegel to view all their deals.
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93