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121 Franklin Place

Filler Capital Secures $3.2 Million Loan For Development Site Acquisition In Woodmere
FINANCEDDevelopment Site

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:

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

Isaac Filler

Filler Capital

Broker

$1.7B

vol

77 deals

Broker

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