Updated Apr 8, 2025
Filler Capital Secures $3.2 Million Loan For Development Site Acquisition In Woodmere
121 Franklin Place
$3,187,500
$93/SF
Building Size
34,000 SF
Asset Type
Development Site
Closing
Feb 27, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 121 Franklin Place in the Woodmere market. The property has a building square footage of 20,000 and a total square footage of 34,000. A land acquisition loan amounting to $3.2 million was secured for this property.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Loan Type: Acquisition
- Building Square Footage: 20,000
- Total Square Footage: 34,000
- Address: 121 Franklin Place
- Market: Woodmere
- Brokers: Steven Edelstein, Isaac Filler & Jordan Gellman - Filler Capital
This transaction highlights the efforts of Filler Capital, who successfully closed the loan within a 40-day contract period, showcasing their capability to operate efficiently and effectively in securing financing for their sponsors. Filler Capital is open for inquiries regarding financing opportunities.
On the Map
$3,187,500
$93/SF
Development Site
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Players
Woodmere Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.98%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93