Updated Dec 4, 2024
Scott Barone, Shie Lefkovits, And Guido Subotovsky Secure $25 Million Loan For School Project In Laurelton
134-11 221st Street
$25,000,000
Building Size
—
Asset Type
Development Site
Closing
Nov 6, 2024
About this deal
AI
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
Laurelton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93