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
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.
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