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Scott Barone, Shie Lefkovits, And Guido Subotovsky Secure $25 Million Loan For School Project In Laurelton
FINANCED
$25,000,000
New York
See Similar DealsDevelopment Site
Financed 11/06/2024
FINANCED
Scott Barone, Shie Lefkovits, And Guido Subotovsky Secure $25 Million Loan For School Project In Laurelton
134-11 221st Street
See Similar DealsDevelopment Site
Financed 11/06/2024
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
The property asset involved in this transaction is a development site located at 134-11 221st Street in Laurelton, Queens. The site is designated for a school building project and encompasses a total of 60,171 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $25,000,000
- Loan Type: Construction
- Lender: Broadview Capital
- Landlord: Scott Barone - Barone Management
- Other Landlords: Shie Lefkovits; Guido Subotovsky - Azimuth Development Group
Key individuals in this transaction include Scott Barone representing Barone Management, alongside Shie Lefkovits and Guido Subotovsky representing Azimuth Development Group. These parties collaborated to secure a construction loan for the specified school building project.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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